This paper studies optimal investment in different types of electric plants. Neither future fuel prices nor future demand are known. Furthermore, we take into account explicitly the problems of management of the peak load and of the decrease of efficiency of plants used for long periods. A two...

This paper studies irreversible investment decisions of a risl neutral regulated firm which has costs of production and of investment known with certainty and constant over time, but subject to uncertainty on exogenous shocks to demand. These shocks follow a geometric Brownian motion. No...

L'objectif de ce papier est de construire un modele d'evaluation des investissements optimaux a realiser dans les centrales electriques thermiques qui opereront en 2005 en Allemagne. Un autre but de ce papier est d'evaluer, sous l'angle economique, les arguments qui ont pu ou peuvent pousser...

This paper expands on the theory of irreversible investment under uncertainty, incorporating capacity constraints and uncertainty of input price. No restriction on the demand elasticity value is imposed. Assuming that the input price follows a geometric Brownian motion, the optimal irreversible...

This paper investigates the determinants of the structure of the banking industry by fitting a monopolistic competition model to a sample of banks drawn from eight EEC countries over 1989-1993. In the theoretical model, banks decide strategically both entry and the branching size of thier...

An elementary proof of the existence of a competitive equilibrium is given for economies where the weak axiom of revealed preference or the gross substitution property hold. It is shown by an induction argument that in these cases, the problem is reduced to the question of the existence of an...

In this paper we analyse the problem of the modelling of individual transitions in presence of an incomplete sampling scheme.

We examine an important class of decision problem under uncertainty that entails the standarrd portfolio problem and the demand for coinsurance. The agent faces a controllable risk -his demand for a risky asset for example- and a background risk. We determine how a change in the distribution in...