INVESTMENT IN COMPETITIVE-EQUILIBRIUM - THE OPTIMALITY OF MYOPIC BEHAVIOR

被引：133

作者：

LEAHY, JV

机构：

来源：

QUARTERLY JOURNAL OF ECONOMICS | 1993年 / 108卷 / 04期

关键词：

D O I：

10.2307/2118461

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

There is an extensive literature on the optimal irreversible investment strategy of a solitary firm facing an exogenous price process. This paper shows that the investment strategies that this literature derives may be optimal in competitive equilibrium even though the price process is now endogenous. This provides a simple means for computing equilibrium investment strategies.

引用

页码：1105 / 1133

页数：29

共 27 条

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[2]

BARTOLINO L, 1990, UNPUB EXCHANGE RATE

[3] IRREVERSIBILITY, UNCERTAINTY, AND CYCLICAL INVESTMENT [J].