Extension and Empirical Application of the Theory Investment Under Uncertainty
不确定性下投资理论的推广与实证应用
基本信息
- 批准号:9223503
- 负责人:
- 金额:$ 18.44万
- 依托单位:
- 依托单位国家:美国
- 项目类别:Continuing Grant
- 财政年份:1993
- 资助国家:美国
- 起止时间:1993-07-01 至 1995-12-31
- 项目状态:已结题
- 来源:
- 关键词:
项目摘要
This project has two objectives: (1) to develop a theoretical framework that integrates and extends existing models of capital investment; and (2) to apply this framework to data on capital investment by firms and by industries. The theoretical framework emphasizes the costs of adjusting the size of the capital stock and includes the facts that firms may pay a higher price for capital when they buy than when they sell capital, that it may cost more per unit to adjust the capital stock quickly rather than slowly, and that adjusting the capital stock may involve fixed costs. Rather than explore the role of a single adjustment technology in isolation, this model specification allows the nesting of possible adjustment costs, resale market imperfections, and acquisition costs, while further allowing for fixed adjustment costs and irreversible investment. Also, the resulting investment function is simple enough to admit direct empirical examination, and the tractability of aggregation problems allows estimation in both firm-level and industry level data. This research is important because it holds the prospect of making an important break through in better understanding the investment behavior of firms and industries.
本项目有两个目标:(1)建立一个理论框架,整合和扩展现有的资本投资模型;(2)将这一框架应用于企业和行业的资本投资数据。该理论框架强调调整资本存量规模的成本,并包括以下事实:企业在购买资本时可能比出售资本时支付更高的资本价格,快速而不是缓慢地调整资本存量的单位成本可能更高,以及调整资本存量可能涉及固定成本。该模型规范不是孤立地探索单一调整技术的作用,而是允许嵌套可能的调整成本、转售市场缺陷和获取成本,同时进一步允许固定调整成本和不可逆投资。此外,由此产生的投资函数足够简单,可以进行直接的实证检验,并且集合问题的可追溯性允许在公司层面和行业层面的数据中进行估计。这项研究很重要,因为它有望在更好地理解企业和行业的投资行为方面取得重要突破。
项目成果
期刊论文数量(0)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
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Andrew Abel其他文献
Evaluation of Fuzzy Logic Proof of Concept
模糊逻辑概念证明的评估
- DOI:
- 发表时间:
2015 - 期刊:
- 影响因子:0
- 作者:
Andrew Abel;A. Hussain - 通讯作者:
A. Hussain
Speaker-Independent Visual Speech Recognition with the Inception V3 Model
使用 Inception V3 模型进行与说话人无关的视觉语音识别
- DOI:
10.1109/slt48900.2021.9383540 - 发表时间:
2021 - 期刊:
- 影响因子:0
- 作者:
Timothy Israel Santos;Andrew Abel;N. Wilson;Yan Xu - 通讯作者:
Yan Xu
Investigating the Visual Lombard Effect with Gabor Based Features
使用基于 Gabor 的特征研究视觉伦巴第效应
- DOI:
- 发表时间:
2020 - 期刊:
- 影响因子:0
- 作者:
Waito Chiu;Yan Xu;Andrew Abel;Chun Lin;Zhengzheng Tu - 通讯作者:
Zhengzheng Tu
On evaluation trials in speaker verification
- DOI:
10.1007/s10489-023-05071-9 - 发表时间:
2023-12-05 - 期刊:
- 影响因子:3.500
- 作者:
Lantian Li;Di Wang;Andrew Abel;Dong Wang - 通讯作者:
Dong Wang
Deep Normalization for Speaker Vectors
说话人向量的深度归一化
- DOI:
10.1109/taslp.2020.3039573 - 发表时间:
2020-04 - 期刊:
- 影响因子:0
- 作者:
Yunqi Cai;Lantian Li;Andrew Abel;Xiaoyan Zhu;Dong Wang - 通讯作者:
Dong Wang
Andrew Abel的其他文献
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{{ truncateString('Andrew Abel', 18)}}的其他基金
Investment under Uncertainty: Theory and Evidence
不确定性下的投资:理论与证据
- 批准号:
9512088 - 财政年份:1995
- 资助金额:
$ 18.44万 - 项目类别:
Standard Grant
The Interaction of Asset Pricing and Economic Activity
资产定价与经济活动的相互作用
- 批准号:
8814208 - 财政年份:1988
- 资助金额:
$ 18.44万 - 项目类别:
Continuing Grant
Aggregate Implications of Individual Lifetime Uncertainty
个人一生不确定性的总体影响
- 批准号:
8408618 - 财政年份:1984
- 资助金额:
$ 18.44万 - 项目类别:
Standard Grant
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