Investment and conditional uncertainty: The role of market power, irreversibility, and returns-to-scale

被引：10

作者：

Drakos, Konstantinos ^{[1
]}

Goulas, Eleftherios ^{[1
]}

机构：

[1] Univ Patras, Dept Econ, Patras 26504, Greece

来源：

ECONOMICS LETTERS | 2006年 / 93卷 / 02期

关键词：

investment; irreversibility; market power; retums-to-scale; uncertainty;

D O I：

10.1016/j.econlet.2006.04.007

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Market power, irreversibility and returns-to-scale decisively determine how uncertainty affects investment. We empirically show that this relationship is positive when deviations from the Neoclassical paradigm are absent. As frictions are introduced the positive sign gradually dies out and turns negative. (c) 2006 Elsevier B.V. All rights reserved.

引用

收藏

页码：169 / 175

页数：7

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