| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5971 |
| 来源ID | Working Paper 5971 |
| A Markup Interpretation of Optimal Rules for Irreversible Investment | |
| Avinash Dixit; Robert S. Pindyck; Sigbjorn Sodal | |
| 发表日期 | 1997-03-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | We re-examine the basic investment problem of deciding when to incur a sunk cost to obtain a stochastically fluctuating benefit. The optimal investment rule satisfies a trade-off between a larger versus a later net benefit; we show that this trade-off is closely analogous to the standard trade-off for the pricing decision of a firm that faces a downward sloping demand curve. We reinterpret the optimal investment rule as a markup formula involving an elasticity that has exactly the same form as the formula for a firm's optimal markup of price over marginal cost. This is illustrated with several examples. |
| 主题 | Microeconomics ; Behavioral Economics ; Economics of Information |
| URL | https://www.nber.org/papers/w5971 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563472 |
| 推荐引用方式 GB/T 7714 | Avinash Dixit,Robert S. Pindyck,Sigbjorn Sodal. A Markup Interpretation of Optimal Rules for Irreversible Investment. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5971.pdf（555KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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