Expandability, reversibility, and optimal capacity choice:
We develop continuous-time models of capacity choice when demand fluctuates stochastically, and the firm's opportunities to expand or contract are limited. Specifically, we consider costs of investing or disinvesting that vary with time, or with the amount of capacity already installed. The fir...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
1998
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6373 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | We develop continuous-time models of capacity choice when demand fluctuates stochastically, and the firm's opportunities to expand or contract are limited. Specifically, we consider costs of investing or disinvesting that vary with time, or with the amount of capacity already installed. The firm's limited opportunities to expand or contract create call and put options on incremental units of capital; we show how the values of these options affect the firm's investment decisions. |
| Physical Description: | 28 S. graph. Darst. |
Staff View
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| id | DE-604.BV011898783 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T18:18:12Z |
| institution | BVB |
| language | English |
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| physical | 28 S. graph. Darst. |
| publishDate | 1998 |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Dixit, Avinash K. 1944- Verfasser (DE-588)115439617 aut Expandability, reversibility, and optimal capacity choice Avinash K. Dixit ; Robert S. Pindyck Cambridge, Mass. 1998 28 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6373 We develop continuous-time models of capacity choice when demand fluctuates stochastically, and the firm's opportunities to expand or contract are limited. Specifically, we consider costs of investing or disinvesting that vary with time, or with the amount of capacity already installed. The firm's limited opportunities to expand or contract create call and put options on incremental units of capital; we show how the values of these options affect the firm's investment decisions. Désinvestissement - Modèles économétriques ram Investissements de capitaux - Modèles économétriques ram Ökonometrisches Modell Capital investments Econometric models Disinvestment Econometric models Pindyck, Robert S. 1945- Verfasser (DE-588)128956399 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6373 (DE-604)BV002801238 6373 http://papers.nber.org/papers/w6373.pdf kostenfrei Volltext |
| spellingShingle | Dixit, Avinash K. 1944- Pindyck, Robert S. 1945- Expandability, reversibility, and optimal capacity choice National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Désinvestissement - Modèles économétriques ram Investissements de capitaux - Modèles économétriques ram Ökonometrisches Modell Capital investments Econometric models Disinvestment Econometric models |
| title | Expandability, reversibility, and optimal capacity choice |
| title_auth | Expandability, reversibility, and optimal capacity choice |
| title_exact_search | Expandability, reversibility, and optimal capacity choice |
| title_full | Expandability, reversibility, and optimal capacity choice Avinash K. Dixit ; Robert S. Pindyck |
| title_fullStr | Expandability, reversibility, and optimal capacity choice Avinash K. Dixit ; Robert S. Pindyck |
| title_full_unstemmed | Expandability, reversibility, and optimal capacity choice Avinash K. Dixit ; Robert S. Pindyck |
| title_short | Expandability, reversibility, and optimal capacity choice |
| title_sort | expandability reversibility and optimal capacity choice |
| topic | Désinvestissement - Modèles économétriques ram Investissements de capitaux - Modèles économétriques ram Ökonometrisches Modell Capital investments Econometric models Disinvestment Econometric models |
| topic_facet | Désinvestissement - Modèles économétriques Investissements de capitaux - Modèles économétriques Ökonometrisches Modell Capital investments Econometric models Disinvestment Econometric models |
| url | http://papers.nber.org/papers/w6373.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT dixitavinashk expandabilityreversibilityandoptimalcapacitychoice AT pindyckroberts expandabilityreversibilityandoptimalcapacitychoice |