The Role of Learning in Investment Decisions

Richard Gray

No 261490, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: If information arrives over time, there is some value in waiting to make an investment involving a sunk cost. Recent work, which specifies the nature of the stochastic process for prices, has shown the standard investment rules are often quite wrong. I relate this emerging body of literature to previous work in other areas of economics which has examined problems where the prospect of learning is important.

Keywords: Financial Economics; Institutional and Behavioral Economics; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 20
Date: 1990-07-23
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://ageconsearch.umn.edu/record/261490/files/Gray-1990.pdf (application/pdf)
https://ageconsearch.umn.edu/record/261490/files/Gray-1990.pdf?subformat=pdfa (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea90:261490

DOI: 10.22004/ag.econ.261490

Access Statistics for this paper

More papers in 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().