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Risk-Aversion And The Investment-Uncertainty Relationship: A Comment, Enrico Saltari, Davide Ticchi
Risk-Aversion And The Investment-Uncertainty Relationship: A Comment, Enrico Saltari, Davide Ticchi
Davide Ticchi
This paper shows that the solution of Nakamura’s [Journal of Economic Behavior and Organization 38 (1999) 357] model is incorrect. We propose an alternative framework that allows us to obtain closed form results on the investment-uncertainty relationship.