Optimal capital investment under uncertainty: An extension

Inwon Jang, Richard Wong, Hyeon Seung Huh

Research output: Contribution to journalArticle


This paper develops a model for optimal capital investment in continuous time when both existing and new capital stocks are subject to uncertainty. The model is generalized to allow for large and infrequent changes in the dynamics of the capital stock, which may arise as a result of natural and man-made disasters.

Original languageEnglish
JournalEconomics Bulletin
Issue number4
Publication statusPublished - 2008 Feb 12


All Science Journal Classification (ASJC) codes

  • Economics, Econometrics and Finance(all)

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