This paper studies irreversible investment decisions of a risl neutral regulated firm which has costs of production and of investment known with certainty and constant over time, but subject to uncertainty on exogenous shocks to demand. These shocks follow a geometric Brownian motion. No restriction on the value of the price elasticity demand is imposed. To produce the firm can utilize several technologies.
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Paper provided by Toulouse - GREMAQ in its series Papers with number
98.496.