eprintid: 779
rev_number: 8
eprint_status: archive
userid: 34
dir: disk0/00/00/07/79
datestamp: 2011-08-09 10:28:36
lastmod: 2011-08-12 15:18:50
status_changed: 2011-08-09 10:28:36
type: article
metadata_visibility: show
item_issues_count: 0
creators_name: Saltari, Enrico
creators_name: Ticchi, Davide
creators_id: 
creators_id: davide.ticchi@imtlucca.it
title: Incertezza e investimenti 
ispublished: pub
subjects: HB
subjects: HD61
divisions: EIC
full_text_status: none
keywords: Investment; Uncertainty; Risk aversion
abstract: The paper proposes a dynamic partial equilibrium model where competitive firms with constant return to scale technology are risk averse. Firms are subject to output price uncertainty. We show that it is possible that the investment-uncertainty relationship is positive even when firms have a high degree of risk aversion. Indeed, the paper shows that risk aversion can explain the negative relationship between investment and uncertainty only in a static context. In a dynamic framework, the linkage between periods can lead risk aversion to have a positive effect on investment when uncertainty increases. Moreover, the paper shows that investment should be positively correlated with uncertainty for reasonable values of the preference and technological parameters.
date: 2001
publication: Rivista internazionale di scienze sociali 
volume: 109
number: 2
publisher: Vita e Pensiero
pagerange: 199-213
refereed: TRUE
issn: 0035-676X
related_url_url: http://www.vponline.it/riviste/000518/
related_url_type: pub
citation:   Saltari, Enrico and Ticchi, Davide  Incertezza e investimenti.  Rivista internazionale di scienze sociali , 109 (2).  pp. 199-213.  ISSN 0035-676X      (2001)