Uncertainty, investment, and industry evolution

International Economic Review

Volumn 37, Issue 3, 1996, Pages 641-662

  Caballero, Ricardo J ^a   Pindyck, Robert S ^a  

^a NONE

Author keywords

[No Author keywords available]

Indexed keywords

INDUSTRIAL DEVELOPMENT; INVESTMENT DECISION; MANUFACTURING; UNCERTAINTY;

USA;

EID: 0030375056     PISSN: 00206598     EISSN: None     Source Type: Journal    
DOI: 10.2307/2527445     Document Type: Article

References (23)

1. ABEL, A. B., "Optimal Investment Under Uncertainty," American Economic Review 73 (1983), 228-233.
2. BERNANKE, B. S., "Irreversibility, Uncertainty, and Cyclical Investment," Quarterly Journal of Economics 98 (1983), 85-106.
3. BERTOLA, G. AND R. CABALLERO, "Irreversibility and Aggregate Investment," Review of Economic Studies 207 (1994), 223-246.
4. CABALLERO, R. J., "Competition and the Non-Robustness of the Investment-Uncertainty Relationship," American Economic Review 91 (1991), 279-288.
5. DIXIT, A., "Hysteresis, Import Penetration, and Exchange-Rate Pass-Through," Quarterly Journal of Economics 104 (1989a), 205-228.
6. _, "Entry and Exit Decisions under Uncertainty," Journal of Political Economy 97 (1989b), 620-638.
7. _, "Irreversible Investment with Price Ceilings," Journal of Political Economy 99 (1991), 541-557.
8. _, "Investment and Hysteresis," Journal of Economic Perspectives 6 (1992), 107-132.
9. _ AND R. S. PINDYCK, Investment Under Uncertainty (Princeton: Princeton University Press, 1994).
10. HARTMAN, R., "The Effects of Price and Cost Uncertainty on Investment," Journal of Economic Theory 5 (1972), 258-266.
11. HOPENHAYN, H. A., "Entry, Exit, and Firm Dynamics in Long Run Equilibrium," Econometrica 60 (1992a), 1127-1150.
12. _, "Exit, Selection, and the Value of Firms," Journal of Economic Dynamics and Control 16 (1992b), 621-653.
13. KARLIN, S. AND H. M. TAYLOR, A Second Course in Stochastic Processes (New York: Academic Press, 1981).
14. LAMBSON, V. E., " Industry Evolution with Sunk Costs and Uncertain Market Conditions," International Journal of Industrial Organization 9 (1991), 171-196.
15. _, "Competitive Profits in the Long Run," Review of Economic Studies 59 (1992), 125-142.
16. LEAHY, J., "Investment in Competitive Equilibrium: The Optimality of Myopic Behavior," Quarterly Journal of Economics 108 (1993), 1105-1133.
17. _ AND T. WHITED, "Some New Evidence on the Relationship Between Investment and Uncertainty," unpublished, Harvard University, 1993.
18. LIPPMAN, S. A. AND R. P. RUMELT, "Industry-Specific Capital and Uncertainty," unpublished, UCLA, Sept. 1985.
19. MAJD, S. AND R. S. PINDYCK, "Time to Build, Option Value, and Investment Decisions," Journal of Financial Economics 18 (1987), 7-27.
20. MCDONALD, R. AND D. R. SIEGEL, " The Value of Waiting to Invest," Quarterly Journal of Economics 101 (1986), 707-728.
21. PINDYCK, R. S., "Irreversible Investment, Capacity Choice, and the Value of the Firm," American Economic Review 78 (1988), 969-985.
22. _, "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature 29 (1991), 1110-1152.
23. _, "A Note on Competitive Investment Under Uncertainty," American Economic Review 83 (1993), 273-277.