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's investment option and capacity decision in a dynamic and uncertain market environment, where continuous economic depreciation … cannot be fully offset. We find that the firm's capacity is increasing in the rate of depreciation for low rates and … investment is level-dependent on the rate of depreciation: only for sufficiently high rates of depreciation there is a positive …
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In China, growth will gradually moderate, reflecting intensified policy efforts to address financial vulnerabilities and structural constraints, and place the economy on a more sustainable growth path. In the rest of the region, growth will pick up, as exports firm in line with strengthening...
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In many situations, agents take risks by choosing an action that increases their performance immediately, but that potentially leads to a large loss. The current paper studies how such risk-taking behavior depends on the level of competition that the agents face. We study a tournament model and...
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In many situations, agents take risks by choosing an action that increases their performance immediately, but that potentially leads to a large loss. The current paper studies how such risk-taking behavior depends on the level of competition that the agents face. We study a tournament model and...
Persistent link: https://www.econbiz.de/10013337710