Investment, Uncertainty, and Irreversibility in Ghana

Investment, Uncertainty, and Irreversibility in Ghana
Panel data on Ghanaian manufacturing firms are used to test predictions from models of irreversible investment under uncertainty. Information on the entrepreneur's subjective probability distribution over future demand for the firm's products is used to construct the expected variance of demand, which is used as a measure of uncertainty.... READ MORE...

Publication date: December 1997
ISBN 9781451858303
$15.00

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