haku: @author Lensink, R. / yhteensä: 11
viite: 9 / 11
| Tekijä: | Lensink, R. Sterken, E. |
| Otsikko: | Asymmetric information, option to wait to invest and the optimal level of investment |
| Lehti: | Journal of Public Economics
2001 : FEB, VOL. 79:2, p. 365-374 |
| Asiasana: | ASYMMETRIC INFORMATION INVESTMENT |
| Kieli: | eng |
| Tiivistelmä: | This paper analyzes equilibrium rationing on credit markets in the case of gains from waiting to acquire information about the future profitability of investment. The authors compare the competitive outcome with the socially optimal level of investment. They show that the opportunity to postpone investment changes the nature of the inefficiencies of the competitive outcome fundamentally. |
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