文章基本信息

标题：Increasing optimism and demand uncertainty
本地全文：下载
作者：Julien Prat
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2005
卷号：12
出版社：Economics Bulletin
摘要：By allowing the initial prior over market size to be a mixture of distributions, this paper extends the model of irreversible investment under uncertainty proposed by Rob (1991). We find that capacity expansion fuels investors' optimism. It is shown in the paper that the crash is always preceded by a boom when the initial prior is a mixture of exponential distributions.
关键词：Learning Investment Uncertainty