Money as real options in a cash-in-advance economy

被引：7
|
作者：
Beck, S [1 ]
Stockman, DR [1 ]
机构：
[1] Univ Delaware, Dept Econ, Newark, DE 19716 USA
来源：
ECONOMICS LETTERS | 2005年 / 87卷 / 03期
关键词：
money; real options; cash-in-advance;
D O I：
10.1016/j.econlet.2005.01.011
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We characterize the optimal exercise point and equilibria in which money as real options has positive option value. We investigate the effect of uncertainty on the option value of money and the optimal exercise strategy. (c) 2005 Elsevier B.V All rights reserved.
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页码：337 / 345
页数：9
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