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Optimal capital investment under uncertainty: An extension

Inwon Jang (), Hyeon-seung Huh and Richard Wong ()
Additional contact information
Inwon Jang: Merrimack College
Richard Wong: Hartford Investment Management Company

Economics Bulletin, 2008, vol. 5, issue 4, 1-7

Abstract: This paper develops a model for optimal capital investment in continuous time when both existing and new capital stocks are subject to uncertainty. The model is generalized to allow for large and infrequent changes in the dynamics of the capital stock, which may arise as a result of natural and man-made disasters.

JEL-codes: E2 C6 (search for similar items in EconPapers)
Date: 2008-02-12
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