CHOOSING AMONG ALTERNATIVE DISCRETE INVESTMENT PROJECTS UNDER UNCERTAINTY

被引：52

作者：

DIXIT, A

机构：

[1] Department of Economics, Princeton University, Princeton

来源：

ECONOMICS LETTERS | 1993年 / 41卷 / 03期

关键词：

D O I：

10.1016/0165-1765(93)90151-2

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Irreversible choice among mutually exclusive projects under output price uncertainty is considered. Increasing returns are shown to make it optimal to wait for the largest project. Greater uncertainty of the price process makes it optimal to wait for a larger project.

引用

页码：265 / 268

页数：4