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Reference: Stephen R. Bond, Måns Söderbom and Guiying Wu, (2011). Pursuing the wrong options? Adjustment costs and the relationship between uncertainty and capital accumulation. Economics Letters, 111 (3), 249 - 251.Citable link to this page:

 

Pursuing the wrong options? Adjustment costs and the relationship between uncertainty and capital accumulation.

Abstract: Abel and Eberly (1999) prove that uncertainty has an ambiguous effect on long run capital accumulation in a real options model. We show that, with adjustment costs quadratic in investment, more uncertainty reduces capital and this effect may be large.

Publication status:PublishedPeer Review status:Peer reviewedVersion:Accepted Manuscript Funder: Economic and Social Research Council   Notes:Copyright 2011 Elsevier B.V. All rights reserved. NOTICE: this is the author's version of a work that was accepted for publication in Economics Letters. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Economics Letters, 111, 3, (June 2011) DOI#10.1016/j.econlet.2011.01.020

Bibliographic Details

Publisher: Elsevier B.V.

Publisher Website: http://www.elsevier.com/

Host: Economics Letterssee more from them

Publication Website: http://www.sciencedirect.com/science/journal/01651765

Issue Date: 2011-06Identifiers

Urn: uuid:dd7c5e46-d0aa-4f86-9828-c82dd81d9e50

Doi: https://doi.org/10.1016/j.econlet.2011.01.020 Item Description

Type: info:eu-repo/semantics/article;

Language: en

Version: Accepted Manuscript

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Autor: Stephen R. Bond - institutionUniversity of Oxford - - - Måns Söderbom - - - Guiying Wu - - - - Bibliographic Details Publisher:

Fuente: https://ora.ox.ac.uk/objects/uuid:dd7c5e46-d0aa-4f86-9828-c82dd81d9e50



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