INTEREST-RATE AND OUTPUT PRICE UNCERTAINTY AND INDUSTRY EQUILIBRIUM FOR NON-RENEWABLE RESOURCE EXTRACTING FIRMS

被引：6

作者：

YEUNG, D

HARTWICK, JM

机构：

[1] UNIV WINDSOR,WINDSOR N9B 3P4,ONTARIO,CANADA

[2] QUEENS UNIV,KINGSTON K7L 3N6,ONTARIO,CANADA

[3] UNIV TORONTO,TORONTO M5S 1A1,ONTARIO,CANADA

来源：

RESOURCES AND ENERGY | 1988年 / 10卷 / 01期

关键词：

INDUSTRIAL ECONOMICS - Analysis - STATISTICAL METHODS;

D O I：

10.1016/0165-0572(88)90002-3

中图分类号：

TE [石油、天然气工业]; TK [能源与动力工程];

学科分类号：

0807 ; 0820 ;

摘要：

We establish convexity of a risk-neutral non-renewable resource extracting agent's value function in the future interest rate, a random variable. A preference by the agent for future interest rate uncertainty follows. A rational expectations, m identical firm industry equilibrium is characterized and the links between interest rate uncertainty and output price uncertainty are investigated.

引用

页码：1 / 14

页数：14

共 5 条

[1] DYNAMICS UNDER UNCERTAINTY [J].