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Author : Ciaran Driver
Publisher : Wiley-Blackwell
ISBN 13 : 9780631173342
Total Pages : 176 pages
Book Rating : 4.1/5 (733 download)
Download or read book Investment, Expectations, and Uncertainty written by Ciaran Driver and published by Wiley-Blackwell. This book was released on 1992 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert K. Dixit
Publisher : Princeton University Press
ISBN 13 : 1400830176
Total Pages : 484 pages
Book Rating : 4.4/5 (8 download)
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Author : Mark Jan-Jochem Koetse
Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (248 download)
Download or read book Investment, Expectations and Uncertainty written by Mark Jan-Jochem Koetse and published by . This book was released on 2003 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eric Barthalon
Publisher : Columbia University Press
ISBN 13 : 0231538308
Total Pages : 445 pages
Book Rating : 4.2/5 (315 download)
Download or read book Uncertainty, Expectations, and Financial Instability written by Eric Barthalon and published by Columbia University Press. This book was released on 2014-11-18 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: Eric Barthalon applies the neglected theory of psychological time and memory decay of Nobel Prize–winning economist Maurice Allais (1911–2010) to model investors' psychology in the present context of recurrent financial crises. Shaped by the behavior of the demand for money during episodes of hyperinflation, Allais's theory suggests economic agents perceive the flow of clocks' time and forget the past at a context-dependent pace: rapidly in the presence of persistent and accelerating inflation and slowly in the event of the opposite situation. Barthalon recasts Allais's work as a general theory of "expectations" under uncertainty, narrowing the gap between economic theory and investors' behavior. Barthalon extends Allais's theory to the field of financial instability, demonstrating its relevance to nominal interest rates in a variety of empirical scenarios and the positive nonlinear feedback that exists between asset price inflation and the demand for risky assets. Reviewing the works of the leading protagonists in the expectations controversy, Barthalon exposes the limitations of adaptive and rational expectations models and, by means of the perceived risk of loss, calls attention to the speculative bubbles that lacked the positive displacement discussed in Kindleberger's model of financial crises. He ultimately extrapolates Allaisian theory into a pragmatic approach to investor behavior and the natural instability of financial markets. He concludes with the policy implications for governments and regulators. Balanced and coherent, this book will be invaluable to researchers working in macreconomics, financial economics, behavioral finance, decision theory, and the history of economic thought.
Author : Robert Lensink
Publisher : Edward Elgar Publishing
ISBN 13 : 9781782541240
Total Pages : 176 pages
Book Rating : 4.5/5 (412 download)
Download or read book Investment, Capital Market Imperfections, and Uncertainty written by Robert Lensink and published by Edward Elgar Publishing. This book was released on 2001-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an up-to-date overview of the theory as well as the empirics of the relationship between investment, financial imperfections and uncertainty. After reviewing the capital market imperfections literature and the empirical results, the authors discuss both traditional investment models with uncertainty and the more modern option based models. They present an overview of empirical results of the modelling of investment under uncertainty. In these examples the effects of capital market imperfections on investment are carefully considered. The authors conclude that there is overwhelming empirical support for a negative uncertainty-investment relationship. This book should appeal to academics with an interest in investment theory, professionals in the financial sector and students of macroeconomics and finance. "Investment, Capital Market Imperfections, and Uncertainty" assumes only a basic knowledge of mathematics and is easily accessible.
Author : Francois Trahan
Publisher : John Wiley & Sons
ISBN 13 : 1118134095
Total Pages : 228 pages
Book Rating : 4.1/5 (181 download)
Download or read book The Era of Uncertainty written by Francois Trahan and published by John Wiley & Sons. This book was released on 2011-07-13 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic Investment Strategies for an Era of Economic Uncertainty “Over the years, François’ insightful analyses of the business cycle has led to market calls that have both benefitted investors on the upside and (more important to many) protected them from losses on the downside. François’ incredible track record in successfully interpreting the trends that can be found in leading indicators and other macroeconomic data have also led to his well deserved reputation as an expert in sector rotation - providing investors on both the long and short side of the market opportunities to profit from his ideas. In my opinion, his most important and influential macro prediction to date was his call in the middle of the last decade when he predicted that the worst housing crisis in American history would soon be upon us, and that it would have far-ranging implications for both the global economy and world financial markets.”
Author : Aymo Brunetti
Publisher : World Bank Publications
ISBN 13 : 9780821341599
Total Pages : 46 pages
Book Rating : 4.3/5 (415 download)
Download or read book Investment and Institutional Uncertainty written by Aymo Brunetti and published by World Bank Publications. This book was released on 1997-01-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Looking decades ahead into the future, many informed observers see China moving steadily to the top of the world's economic league. Several sources, including the OECD, forecast that the country will be the world's largest economy by 2020. China's urban economy has been the driving force behind the country's recent trends of accelerated growth. By the same token, deterioration in the urban centers could constrain future growth. The Dynamics of Urban Growth in Three Chinese Cities looks at the interplay between geography, size, and industrial structure that determines the industrial vigor of cities. Their conclusions, abundantly illustrated through the experience of the Chinese cities of Shanghai, Tianjin, and Guangzhou, is that each of these factors must be made to work for the city through effective policymaking. The authors compare these cities with each other in the context of the changes sweeping China's economy, review their history and their reform programs from the early 1980s to the mid-1990s, and examine their infrastructure and human capital. The volume includes maps of the cities and their outlying areas and of China's road and rail system, as well as figures depicting the industrial structure of each city. Published for the World Bank by Oxford University Press.
Author : Robert S. Pindyck
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4./5 ( download)
Download or read book Irreversibility, Uncertainty, and Investment written by Robert S. Pindyck and published by World Bank Publications. This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: Irreversible investment is especially sensitive to such risk factors as volatile exchange rates and uncertainty about tariff structures and future cash flows. If the goal of macroeconomic policy is to stimulate investment, stability and credibility may be more important than tax incentives or interest rates.
Author : Sivan Chetty
Publisher :
ISBN 13 : 9780869704530
Total Pages : 38 pages
Book Rating : 4.7/5 (45 download)
Download or read book Uncertainty and Expectations in Fixed Investment Behaviour written by Sivan Chetty and published by . This book was released on 1999 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Stephen Bond
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.E/5 ( download)
Download or read book Uncertainty and Investment written by Stephen Bond and published by . This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Haim Levy
Publisher : Springer Science & Business Media
ISBN 13 : 0387293116
Total Pages : 439 pages
Book Rating : 4.3/5 (872 download)
Download or read book Stochastic Dominance written by Haim Levy and published by Springer Science & Business Media. This book was released on 2006-08-25 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and considers how contradictions between these two approaches may occur.
Author : Nancy L. Stokey
Publisher : Harvard University Press
ISBN 13 : 0674735188
Total Pages : 607 pages
Book Rating : 4.6/5 (747 download)
Download or read book Recursive Methods in Economic Dynamics written by Nancy L. Stokey and published by Harvard University Press. This book was released on 1989-10-10 with total page 607 pages. Available in PDF, EPUB and Kindle. Book excerpt: This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.
Author : Frank H. Knight
Publisher : Cosimo, Inc.
ISBN 13 : 1602060053
Total Pages : 401 pages
Book Rating : 4.6/5 (2 download)
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author : Guerdon T. Ely
Publisher : Xulon Press
ISBN 13 : 1615795979
Total Pages : 190 pages
Book Rating : 4.6/5 (157 download)
Download or read book Uncertainty Is a Certainty written by Guerdon T. Ely and published by Xulon Press. This book was released on 2009-12 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt: The certainty of uncertainty is as true for managing investments as it is for potty-training toddlers; if you are not careful you could end up with a real mess! This is especially true for anyone responsible, even indirectly, for money belonging to a relative, friend, trust, charity, pension or other entity. Being a fiduciary is a very serious legal obligation but this book makes learning how to be one actually fun! If you ever need to serve as or hire a trustee, executor, or investment advisor for your own money or that of family or friends, you must understand what "fiduciary responsibility" means. Guerdon Ely's book is the fastest, most boredom-free, way to gain that understanding. Natalie B. Choate, Esq., Author, Life and Death Planning for Retirement Benefits An exceptionally entertaining book that uses a unique story telling format to define fiduciaries and explain their duties in terms that are easily understood. Guerdon's simple and concise summarization of the elements of "prudence" alone makes this book worth reading. David O'Leary, Esq., Senior Counsel, Holland & Knight LLP This book is brilliant! Fiduciary responsibility can be very dry reading but the author's use of autobiographical tales makes it an extremely enjoyable process. June Hunt, Retired CFO Superbly written, Ely brings the objective standards of modern prudent fiduciary investing to life. A must read for anyone entrusted with the duties of a fiduciary. Katherine Simmonds, Director of Financial Planning Ely brings a common sense approach to fiduciary investing. I find myself reading his stories to friends and colleagues, not only for the content but also for the humor! CPAs and attorneys must recommend this book to all their clients who are fiduciaries. Glenn Freed, PhD, Vice President, A Major Investment Management Firm Former Accounting Professor, University of Southern California
Author : Andrew B. Abel
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (78 download)
Download or read book The Effects of Uncertainty on Investment and the Expected Long-run Capital Stock written by Andrew B. Abel and published by . This book was released on 1983 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerald Ashley
Publisher : John Wiley & Sons
ISBN 13 : 0470864702
Total Pages : 188 pages
Book Rating : 4.4/5 (78 download)
Download or read book Uncertainty and Expectation written by Gerald Ashley and published by John Wiley & Sons. This book was released on 2005-08-05 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this entertaining and thoughtful book, Gerald Ashley sets out to explain what trading is, and lays out a modus operandi for being a trader and investor. He draws upon market anecdotes and examples from the past, seeking to debunk many myths surrounding financial markets, and to try and make the reader understand the real processes, risks and rewards that drive investment. In particular he examines ideas in market and individual investor behaviour, and questions the usefulness of many of todays standard investment techniques including benchmarks, charts, analysts and 'gurus'. He also lays out simple precepts for understanding investment risk and suggests ideas for managing your investments in today's markets.
Author : Calvin D. Siebert
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (564 download)
Download or read book An Inquiry Into Expectations and Uncertainty with Special Reference to Their Effects on Producers' Fixed Capital Investment Behavior written by Calvin D. Siebert and published by . This book was released on 1960 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
