English, Article, Journal or magazine article edition: An irreversible investment model with a stochastic production capacity and fixed plus proportional adjustment costs Yiannis Kamarianakis; Anastasios Xepapadeas

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Bookmark: http://trove.nla.gov.au/version/76869
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • An irreversible investment model with a stochastic production capacity and fixed plus proportional adjustment costs
Author
  • Yiannis Kamarianakis
  • Anastasios Xepapadeas
Physical Description
  • preprint
Notes
  • This paper studies the problem of a company which expands its stochastic production capacity in irreversible investments by purchasing capital and faces both fixed and proportional costs. The objective of the company is to find optimal production decisions to maximize its expected total net profit in an infinite horizon. We solve this problem explicitly by applying the theory of stochastic impulse controls.
  • Irreversible investment; production; quasi-variational inequalities; stochastic impulse control
  • RePEc:crt:wpaper:0708
Language
  • English
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