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Investment under uncertainty /

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?

Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Dixit, Avinash K.
Otros Autores: Pindyck, Robert S.
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Princeton, N.J. : Princeton University Press, ©1994.
Temas:
Acceso en línea:Texto completo

MARC

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100 1 |a Dixit, Avinash K. 
245 1 0 |a Investment under uncertainty /  |c Avinash K. Dixit and Robert S. Pindyck. 
260 |a Princeton, N.J. :  |b Princeton University Press,  |c ©1994. 
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504 |a Includes bibliographical references (pages 429-444) and indexes. 
505 0 |a 1. A New View of Investment -- 2. Developing the Concepts Through Simple Examples -- 3. Stochastic Processes and Ito's Lemma -- 4. Dynamic Optimization under Uncertainty -- 5. Investment Opportunities and Investment Timing -- 6. The Value of a Project and the Decision to Invest -- 7. Entry, Exit, Lay-Up, and Scrapping -- 8. Dynamic Equilibrium in a Competitive Industry -- 9. Policy Intervention and Imperfect Competition -- 10. Sequential Investment -- 11. Incremental Investment and Capacity Choice -- 12. Applications and Empirical Research. 
520 |a 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? 
520 8 |a 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 these and other important questions about investment decisions and the behavior of investment spending. 
520 8 |a . 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. 
520 8 |a The book shows the importance of the theory for understanding the investment behavior of firms. It develops the implications of this theory for industry dynamics and for government policy concerning investment. It also shows how the theory can be applied to specific industries and to a wide variety of business problems. 
588 0 |a Print version record. 
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650 0 |a Capital investments  |x Decision making. 
650 6 |a Investissements de capitaux  |x Prise de décision. 
650 7 |a BUSINESS & ECONOMICS  |x Insurance  |x Risk Assessment & Management.  |2 bisacsh 
650 7 |a BUSINESS & ECONOMICS  |x Investments & Securities  |x General.  |2 bisacsh 
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650 7 |a Prise de décision.  |2 ram 
650 7 |a Investissements  |x Modèles mathématiques.  |2 ram 
650 7 |a Calcul économique  |x Modèles mathématiques.  |2 ram 
650 7 |a Incertitude (économie politique)  |2 ram 
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653 0 |a Business  |a Investment 
700 1 |a Pindyck, Robert S. 
776 0 8 |i Print version:  |a Dixit, Avinash K.  |t Investment under uncertainty.  |d Princeton, N.J. : Princeton University Press, ©1994  |z 0691034109  |w (DLC) 93026321  |w (OCoLC)28585458 
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