Entry and exit decisions under uncertainty: The limiting deterministic case

被引：2
|
作者：
Kongsted, HC
机构：
[1] Institute of Economics, University of Copenhagen, DK-1455 Copenhagen K
来源：
ECONOMICS LETTERS | 1996年 / 51卷 / 01期
关键词：
entry-exit policies; irreversible investment; price volatility;
D O I：
10.1016/0165-1765(95)00787-3
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper establishes the general deterministic limit that corresponds to Dixit's model of entry and exit decisions under uncertainty. The interlinked nature of decisions is shown to be essential also in the deterministic limit. A numerical example illustrates the result.
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页码：77 / 82
页数：6
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