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The Effects of Uncertainty on Investment under Risk Neutrality with Endogenous Information
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The Effects of Uncertainty on Investment under Risk Neutrality with Endogenous Information (1980)The Effects of Uncertainty on Investment …Disaster insurance protection: Public policy lessons (1978)Disaster insurance protection…Monetary Policy during a Transition to Rational Expectations (1975)Monetary Policy during a Tran…On the psychology of prediction. 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(1987)Futures Markets: A Consequenc…A POSITIVE THEORY OF DISCRETIONARY POLICY, THE COST OF DEMOCRATIC GOVERNMENT AND THE BENEFITS OF A CONSTITUTION (1986)A POSITIVE THEORY OF DISCRETI…Trade reform, aggregate investment and capital flight (1985)Trade reform, aggregate inves…Time to Build, Option Value, and Investment Decisions (1985)Time to Build, Option Value, …Belief in the law of small numbers. (1971)Subjective probability: A judgment of representativeness (1972)Availability: A heuristic for judging frequency and probability (1973)Judgment under Uncertainty: Heuristics and Biases (1974)Judgment under Uncertainty: Heuristics and Biases (1975)Telling more than we can know: Verbal reports on mental processes. (1977)Irreversibility, Uncertainty, and Cyclical Investment (1980)The Value of Waiting to Invest (1982)Investment Under Uncertainty. (1994)What makes the stock market jump? 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The Determinants of Opportunistic Election Timing and Electorally Motivated Economic Intervention (2005)The Political Economy of Government Debt (2016)A Mathematical Theory of Saving (1928)Introduction to Stochastic Control Theory (1970)Some International Evidence on Output-Inflation Tradeoffs. (1973)Rational Expectations and the Dynamic Structure of Macroeconomic Models:A Critical Review (1975)Optimal expectations and the extreme information assumptions of ‘rational expectations’ macromodels (1979)Rational Expectations and Learning from Experience (1979)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Institutions, Institutional Change and Economic Performance (1991)Risk identification and analysis for new energy power system in China based on D numbers and decision-making trial and evaluation laboratory (DEMATEL) (2018)Does economic policy uncertainty affect renewable energy consumption? (2021)Risk assessment of renewable energy investments: A modified failure mode and effect analysis based on prospect theory and intuitionistic fuzzy AHP (2021)The Political Business Cycle (1975)The Role of Monetary Policy (1995)Political budget cycles in the European Union and the impact of political pressures (2011)Political cycles in public expenditure: butter vs guns (2016)Judged frequency of lethal events. (1978)Facing the Unexpected: Disaster Preparedness and Response in the United States (2002)Poverty and Disasters in the United States: A Review of Recent Sociological Findings (2004)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)
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References

  • 1973On the psychology of prediction.6,201 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1978Disaster insurance protection: Public policy lessons775 cited
  • 1975Monetary Policy during a Transition to Rational Expectations180 cited

Cited by

  • 1998Output, Stock Volatility, and Political Uncertainty in a Natural Experiment: Germany, 1880–1940299 cited
  • 1995The Politics of the Political Business Cycle223 cited
  • 1986A POSITIVE THEORY OF DISCRETIONARY POLICY, THE COST OF DEMOCRATIC GOVERNMENT AND THE BENEFITS OF A CONSTITUTION221 cited
  • 2012The Effect of Regulatory Uncertainty on Investment: Evidence from Renewable Energy Generation157 cited
  • 1998A model of sequential investment112 cited
  • 2001An equilibrium model of irreversible investment110 cited
  • 2012Electoral Business Cycles in OECD Countries106 cited
  • 1994Investment under Uncertainty: Keeping One's Options Open101 cited
  • 2008Investment and uncertainty in the international oil and gas industry94 cited
  • 1996Delay and Cycles78 cited
  • 1985Trade reform, aggregate investment and capital flight77 cited

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  • 2011Rational IPO Waves76 cited
  • 2022Uncertainty and corporate default risk: Novel evidence from emerging markets67 cited
  • 1987Futures Markets: A Consequence of Risk Aversion or Transactions Costs?66 cited
  • 1985Time to Build, Option Value, and Investment Decisions63 cited
  • 2000Central Banks, Partisan Politics, and Macroeconomic Outcomes62 cited