This paper analyzes the main uncertainty of college saving - the child’s ability - in the context of the saving with …’ forward-looking saving behavior when they are confronted with the real option of college choice due to uncertainty of their …

current oil price and the economic uncertainty of the market. …

In this paper, we extend the usual models of irreversible investment under uncertainty by introducing the stock of … equilibrium analysis, as it is standard in models of irreversible investment under uncertainty. Even under uncertainty, the … optimal tax rate is then constant and does not depend on the size of uncertainty, it is exactly the same as the one that would …