Investment under Uncertainty PDF (Adobe DRM) download by Robert K. Dixit

Investment under Uncertainty

Princeton University Press
Publication date: July 2012
ISBN: 9781400830176
Digital Book format: PDF (Adobe DRM)

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How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending.

This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.

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Investment under Uncertainty PDF (Adobe DRM) download by Robert K. Dixit
Princeton University Press, July 2012
ISBN: 9781400830176
EAN:  9781400830176
PDF (Adobe DRM)
List Price: $99.95 eBook price: $93.99
Investment under Uncertainty ePub (Adobe DRM) download by Robert K. Dixit
Princeton University Press, July 2012
ISBN: 9781400830176
EAN:  2370004453699
ePub (Adobe DRM)
List Price: $99.95 eBook price: $93.99