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Decisiones de inversión y abandono de inversiones en contextos de agregación imperfecta de información

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  • José Pablo Dapena

Abstract

La tradicional regla marshalliana de inversión (o abandono) cuando un activo vale mas (menos) que una inversión alternativa es modificada en situaciones de incertidumbre e irreversibilidad, generando un componente de opción. Adicionalmente, la interacción de varios participantes en una economía propietarios de oportunidades de inversión (o abandono) puede dar origen con información imperfecta y asimétrica a cascadas informacionales o comportamientos de manada, con potenciales efectos de sobre o subinversión en un caso, y abandono tardío o prematuro en el otro, dado que el set individual de información es inferido a partir de las decisiones de inversión o abandono efectivamente manifestadas. En el presente artículo se desarrolla un modelo que captura esos efectos dando lugar a consideraciones acerca del grado de dispersión de la

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Bibliographic Info

Paper provided by Universidad del CEMA in its series CEMA Working Papers: Serie Documentos de Trabajo. with number 321.

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Length: 27 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:cem:doctra:321

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Keywords: opciones reales; mercado de capitales; inversión; agregación.;

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