How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
發表於2024-11-26
Investment under Uncertainty 2024 pdf epub mobi 電子書 下載
討論瞭各種不同的調整成本存在時的最優投資決策。 凸(二次)調整成本會使投資需求從靜態變成動態,固定調整成本使投資決策齣現sS區間,不可逆性使等待不確定性消散變得有價值,於是有瞭實期權效應。 很有意思的一本書,文筆極為流暢。
評分我一開始隻對隨機過程感興趣,看看怎麼應用。仔細一看,這本書解決瞭很多很有趣的問題,那就是如何在各種不確定的情況下來投資,分析NPV。值得一提的是Pindyck是MIT應用數學係的教授,現在在管理學院當教授,個人的魅力無窮,建議旁聽他的課
評分我一開始隻對隨機過程感興趣,看看怎麼應用。仔細一看,這本書解決瞭很多很有趣的問題,那就是如何在各種不確定的情況下來投資,分析NPV。值得一提的是Pindyck是MIT應用數學係的教授,現在在管理學院當教授,個人的魅力無窮,建議旁聽他的課
評分我一開始隻對隨機過程感興趣,看看怎麼應用。仔細一看,這本書解決瞭很多很有趣的問題,那就是如何在各種不確定的情況下來投資,分析NPV。值得一提的是Pindyck是MIT應用數學係的教授,現在在管理學院當教授,個人的魅力無窮,建議旁聽他的課
評分我一開始隻對隨機過程感興趣,看看怎麼應用。仔細一看,這本書解決瞭很多很有趣的問題,那就是如何在各種不確定的情況下來投資,分析NPV。值得一提的是Pindyck是MIT應用數學係的教授,現在在管理學院當教授,個人的魅力無窮,建議旁聽他的課
圖書標籤: 金融 數學 Finance Economics 經濟學 stochastics 金融工程 economics
great book, very accessible and with great intuition
評分Econ 4113: Mathematical Economics. 投資裏stochastic和dynamic programing的應用。扉頁很牛逼的寫著'To the future'...
評分有一點概率基礎就可以學。蠻不錯的書。
評分Econ 4113: Mathematical Economics. 投資裏stochastic和dynamic programing的應用。扉頁很牛逼的寫著'To the future'...
評分Econ 4113: Mathematical Economics. 投資裏stochastic和dynamic programing的應用。扉頁很牛逼的寫著'To the future'...
Investment under Uncertainty 2024 pdf epub mobi 電子書 下載