conditions, to find the equilibrium offering the highest social welfare. There is usually considerable uncertainty about the … amount of investment that will accompany any level of protection, further complicating the government%u2019s choice problem …

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 … demand curve. We reinterpret the optimal investment rule as a markup formula involving an elasticity that has exactly the …

, thus showing that liquidity constraints bind with respect to agricultural investment. In loan-villages, we gave grants to a … grants. Thus we find important heterogeneity in returns to investment and strong evidence that farmers with higher marginal … returns to investment self-select into lending programs. …

The investment decisions of small‐scale farmers in developing countries are conditioned by their financial environment …. Binding credit market constraints and incomplete insurance can reduce investment in activities with high expected profits. We … leads to significantly larger agricultural investment and riskier production choices in agriculture. The binding constraint …

impact on the growth and investment decisions of firms. The model features interactions between firms' dynamic fixed …

sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life … frictions, learning about demand, and recent endogenous growth models with incumbent innovation. We emphasize the importance of … empirical successes and shortcomings of current theory. First, models of organizational capital and innovation are broadly …

This paper develops a model of investment decisions in which uncertainty about a one-time change in tax policy induces … the firm to temporarily stop investing--to adopt a wait-and-see policy. After the uncertainty is resolved, the firm … exploits the tabled projects, generating a temporary investment boom. …