Irreversible investment under uncertainty in oligopoly

Article Abstract:

The technique of a fictitious social planner and the theory of irreversible investment under uncertainty indicated that qualitatively, the price process will be the same in oligopoly and competitive equilibrium. When companies are different, in initial size for instance, although they are similar in other aspects, considerable time may pass until they will be alike in size.

Economics, Research and Development in the Social Sciences and Humanities, Models, Oligopolies

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Optimal portfolio policies with borrowing and shortsale constraints

Article Abstract:

Optimal intertemporal portfolio policies for CRRA utility investors faced with borrowing constraints or shortsale restrictions, are characterized.

Loans

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Minimum-cost portfolio insurance

Article Abstract:

Incomplete derivative markets where minimum-cost insurance is independent of arbitrage-free security prices, are examined.

Insurance, Derivatives (Financial instruments)

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