Optimal investment with lumpy costs

DOI10.1016/J.JEDC.2004.07.003MaRDI QIDQ956428zbMATHOpenAlexFDO

Authors Duc Thuc Le, John Bailey Jones

Publication date 25 November 2008

Published in Journal of Economic Dynamics and Control (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jedc.2004.07.003

zbMATH Keywords

investmentadjustment costsuser costslumpiness

Mathematics Subject Classification ID

Production theory, theory of the firm (91B38) Corporate finance (dividends, real options, etc.) (91G50)

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Cites work

• A simplified treatment of the theory of optimal regulation of Brownian motion
• Asset Pricing and Optimal Portfolio Choice in the Presence of Illiquid Durable Consumption Goods
• Capacity Expansion and Probabilistic Growth
• Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S, s) Approach
• Impulse Control of Brownian Motion
• Instantaneous Control of Brownian Motion
• On the Nature of Capital Adjustment Costs
• Optimal Investment with Costly Reversibility
• Super contact and related optimality conditions
• The Lucas critique revisited: Assessing the stability of empirical Euler equations for investment
• Uncertainty and Consumer Durables Adjustment

Cited in

(7)

• TIMING OF LUMPY INVESTMENT, PRICING AND TECHNICAL PROGRESS
• Lumpy investment and expected stock returns
• Multi-factor dynamic investment under uncertainty
• Investments with declining cost following a Lévy process
• The role of non-convex costs in firms' investment and financial dynamics
• Product innovation with lumpy investment
• Optimal investment policy with fixed adjustment costs and complete irreversibility

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