'Reverse Hysteresis': R&D Investment with Stochastic Innovation
'Reverse Hysteresis': R&D Investment with Stochastic Innovation
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“反向磁滞”：R
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发表时间：
1999
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通讯作者：
Helen Weeds
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作者：
Helen Weeds
我们认为，最优的投资行为的公司面临的技术和经济的不确定性，在一个研究项目的背景下，不可预测的结果。最优投资策略，在一对投资和放弃的触发点的形式，推导出。与Diallium（1989）一样，投资触发点超过马歇尔投资点。
We consider optimal investment behavior for a firm facing both technological and economic uncertainty, in the context of a research project with unpredictable outcomes. The optimal investment strategy, in the form of a pair of trigger points for investment and abandonment, is derived. As in Dixit (1989), the investment trigger exceeds the Marshallian investment point.