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Inwon Jang, Hyeon-seung Huh and Richard Wong
''Optimal capital investment under uncertainty: An extension''
( 2008, Vol. 5 No.4 )
This paper develops a model for optimal capital investment in continuous time when both existing and new capital stocks are subject to uncertainty. The model is generalized to allow for large and infrequent changes in the dynamics of the capital stock, which may arise as a result of natural and man-made disasters.
JEL: E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data)
C6 - Mathematical Methods and Programming: General
Manuscript Received : Feb 03 2008 Manuscript Accepted : Feb 12 2008

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