Investment under Uncertainty

Name: Investment under Uncertainty
Price: 13.45 USD
Availability: InStock
ISBN: 9780691034102

ISBN-10: 0691034109

ISBN-13: 9780691034102

Edition: 1994

Authors: Robert K. Dixit, Robert S. Pindyck, Robert K. Dixit

List price: $105.00

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Description:

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of…

Book details

List price: $105.00
Copyright year: 1994
Publisher: Princeton University Press
Publication date: 1/30/1994
Binding: Hardcover
Pages: 488
Size: 6.46" wide x 9.33" long x 1.48" tall
Weight: 2.134
Language: English



Preface



A New View of Investment



Developing the Concepts Through Simple Examples



Stochastic Processes and Ito's Lemma



Dynamic Optimization under Uncertainty



Investment Opportunities and Investment Timing



The Value of a Project and the Decision to Invest



Entry, Exit, Lay-Up, and Scrapping



Dynamic Equilibrium in a Competitive Industry



Policy Intervention and Imperfect Competition



Sequential Investment



Incremental Investment and Capacity Choice



Applications and Empirical Research


References


Symbol Glossary


Author Index


Subject Index