Sunk Investments Lead to Unpredictable Prices (Second Version)
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More about this item
Keywords
Sunk investments; inefficient investments; sunspots; random prices.;All these keywords.
JEL classification:
- D40 - Microeconomics - - Market Structure, Pricing, and Design - - - General
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-FIN-2005-01-02 (Finance)
- NEP-MIC-2005-01-02 (Microeconomics)
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