期刊
ECONOMICS LETTERS
卷 93, 期 2, 页码 169-175出版社
ELSEVIER SCIENCE SA
DOI: 10.1016/j.econlet.2006.04.007
关键词
investment; irreversibility; market power; retums-to-scale; uncertainty
类别
Market power, irreversibility and returns-to-scale decisively determine how uncertainty affects investment. We empirically show that this relationship is positive when deviations from the Neoclassical paradigm are absent. As frictions are introduced the positive sign gradually dies out and turns negative. (c) 2006 Elsevier B.V. All rights reserved.
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