메뉴 건너뛰기




Volumn 21, Issue 4-5, 1997, Pages 831-852

An exact solution for the investment and value of a firm facing uncertainty, adjustment costs, and irreversibility

Author keywords

Investment; Irreversibility

Indexed keywords


EID: 0031138798     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0165-1889(97)00005-5     Document Type: Article
Times cited : (69)

References (24)
  • 1
    • 0001537962 scopus 로고
    • Optimal investment under uncertainty
    • Abel, A.B., 1983, Optimal investment under uncertainty, American Economic Review 73, 228-233.
    • (1983) American Economic Review , vol.73 , pp. 228-233
    • Abel, A.B.1
  • 2
    • 0001412529 scopus 로고
    • A stochastic model of investment, marginal q, and the market value of the firm
    • Abel, A.B., 1985, A stochastic model of investment, marginal q, and the market value of the firm, International Economic Review 26, 305-322.
    • (1985) International Economic Review , vol.26 , pp. 305-322
    • Abel, A.B.1
  • 4
    • 0001320055 scopus 로고
    • A unified model of investment under uncertainty
    • Abel, A.B. and J.C. Eberly, 1994, A unified model of investment under uncertainty, American Economic Review, 1369-1384.
    • (1994) American Economic Review , pp. 1369-1384
    • Abel, A.B.1    Eberly, J.C.2
  • 5
    • 85121566155 scopus 로고
    • Optimal capital policy with irreversible investment
    • J.N. Wolfe, ed., papers in honour of Sir John Hicks (Edinburgh University Press, Edinburgh)
    • Arrow, K.J., 1968, Optimal capital policy with irreversible investment, in: J.N. Wolfe, ed., Value, capital and growth, papers in honour of Sir John Hicks (Edinburgh University Press, Edinburgh) 1-19.
    • (1968) Value, Capital and Growth , pp. 1-19
    • Arrow, K.J.1
  • 6
    • 84995453303 scopus 로고
    • Irreversibility, uncertainty and cyclical investment
    • Bernanke, B., 1983, Irreversibility, uncertainty and cyclical investment, Quarterly Journal of Economics 98(1), 85-106.
    • (1983) Quarterly Journal of Economics , vol.98 , Issue.1 , pp. 85-106
    • Bernanke, B.1
  • 7
    • 0003673799 scopus 로고
    • Unpublished manuscript (MIT, Cambridge, MA)
    • Bertola, G., 1987, Irreversible investment, Unpublished manuscript (MIT, Cambridge, MA).
    • (1987) Irreversible Investment
    • Bertola, G.1
  • 8
    • 0000134506 scopus 로고
    • On the sign of the investment - Uncertainty relationship
    • Caballero, R.J., 1991, On the sign of the investment - uncertainty relationship, American Economic Review 81, 279-288.
    • (1991) American Economic Review , vol.81 , pp. 279-288
    • Caballero, R.J.1
  • 9
    • 84936823784 scopus 로고
    • Entry and exit decisions under uncertainty
    • Dixit, A., 1989, Entry and exit decisions under uncertainty, Journal of Political Economy, 97, 620-638.
    • (1989) Journal of Political Economy , vol.97 , pp. 620-638
    • Dixit, A.1
  • 10
    • 84934564099 scopus 로고
    • Irreversible investment with price ceilings
    • Dixit, A., 1991, Irreversible investment with price ceilings, Journal of Political Economy, 99, 541-557.
    • (1991) Journal of Political Economy , vol.99 , pp. 541-557
    • Dixit, A.1
  • 12
    • 0001770007 scopus 로고
    • Determinants of business investment
    • Commission on Money and Credit (Prentice-Hall, Englewood Cliffs, NJ)
    • Eisner, R., and R.H. Strotz, 1963, Determinants of business investment, in: Impacts of monetary policy, Commission on Money and Credit (Prentice-Hall, Englewood Cliffs, NJ) 59-337.
    • (1963) Impacts of Monetary Policy , pp. 59-337
    • Eisner, R.1    Strotz, R.H.2
  • 13
    • 0002833302 scopus 로고
    • Adjustment costs in the theory of investment of the firm
    • Gould, J.P., 1968, Adjustment costs in the theory of investment of the firm, Review of Economic Studies 35(1), 47-55.
    • (1968) Review of Economic Studies , vol.35 , Issue.1 , pp. 47-55
    • Gould, J.P.1
  • 14
    • 0001339668 scopus 로고
    • The effect of price and cost uncertainty on investment
    • Hartman, R., 1972, The effect of price and cost uncertainty on investment, Journal of Economic Theory 5, 258-266.
    • (1972) Journal of Economic Theory , vol.5 , pp. 258-266
    • Hartman, R.1
  • 15
    • 0000939170 scopus 로고
    • Tobin's marginal and average q: A neoclassical interpretation
    • Hayashi, F., 1982, Tobin's marginal and average q: A neoclassical interpretation, Econometrica 50, 213-224.
    • (1982) Econometrica , vol.50 , pp. 213-224
    • Hayashi, F.1
  • 16
    • 0000129066 scopus 로고
    • Adjustment costs and the theory of supply
    • Lucas, Jr., R.E., 1967, Adjustment costs and the theory of supply, Journal of Political Economy 75(4, Part I), 321-334.
    • (1967) Journal of Political Economy , vol.75 , Issue.4 PART I , pp. 321-334
    • Lucas R.E., Jr.1
  • 17
    • 0000186211 scopus 로고
    • Investment under uncertainty
    • Lucas, Jr., R.E. and E.C. Prescott, 1971, Investment under uncertainty, Econometrica 39, 659-681.
    • (1971) Econometrica , vol.39 , pp. 659-681
    • Lucas R.E., Jr.1    Prescott, E.C.2
  • 19
    • 2442616657 scopus 로고
    • External and internal adjustment costs and the theory of aggregate and firm investment
    • Mussa, M, 1977, External and internal adjustment costs and the theory of aggregate and firm investment, Economica 44, 163-178.
    • (1977) Economica , vol.44 , pp. 163-178
    • Mussa, M.1
  • 20
    • 0000888844 scopus 로고
    • Irreversible investment, capacity choice, and the value of the firm
    • Pindyck, R.S., 1988, Irreversible investment, capacity choice, and the value of the firm, American Economic Review 78, 969-985.
    • (1988) American Economic Review , vol.78 , pp. 969-985
    • Pindyck, R.S.1
  • 21
    • 0000281418 scopus 로고
    • Irreversibility, uncertainty, and investment
    • Pindyck, R.S., 1991, Irreversibility, uncertainty, and investment, Journal of Economic Literature 29, 1110-1148.
    • (1991) Journal of Economic Literature , vol.29 , pp. 1110-1148
    • Pindyck, R.S.1
  • 22
    • 0000880893 scopus 로고
    • A note on competitive investment under uncertainty
    • Pindyck, R.S., 1993, A note on competitive investment under uncertainty, American Economic Review 83, 273-277.
    • (1993) American Economic Review , vol.83 , pp. 273-277
    • Pindyck, R.S.1
  • 23
    • 0002661755 scopus 로고
    • A general equilibrium approach to monetary theory
    • Tobin, J., 1969, A general equilibrium approach to monetary theory, Journal of Money, Credit and Banking 1, 15-29.
    • (1969) Journal of Money, Credit and Banking , vol.1 , pp. 15-29
    • Tobin, J.1
  • 24
    • 84963093098 scopus 로고
    • On rational entrepreneurial behaviour and the demand for investment
    • Treadway, A.B., 1969, On rational entrepreneurial behaviour and the demand for investment, Review of Economic Studies 36, 227-239.
    • (1969) Review of Economic Studies , vol.36 , pp. 227-239
    • Treadway, A.B.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.