Investment, expectations and uncertainty

Bibliographic Information

Investment, expectations and uncertainty

Ciaran Driver and David Moreton

Blackwell, 1992

Available at  / 43 libraries

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Note

Bibliography : p. [161]-171

Includes indexes

Description and Table of Contents

Description

This is a study of the investment behaviour of business firms in an uncertain environment. It begins with a general overview of the role of investment in economics. The theory of investment is then examined in a context of risk and uncertainty, taking account of economic theory, and management and decision theory. The authors go on to analyze the theory of risk and uncertainty, focusing on the integration of a coherent account of risk with models of investment behaviour. The book also offers a construction of a set of measures of uncertainty and the use of these in the econometric estimation of investment behaviour, at both aggregate and industry level.

Table of Contents

  • Introduction
  • is investment important?
  • capital shortage and trends in investment
  • investment under risk
  • risk and uncertainty - conceptual issues and measurement problems
  • dispersion as a measure of uncertainty
  • estimating the effect of uncertainty - aggregate investment
  • estimating the effect of uncertainty at industry level
  • conclusions and implications of the research.

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