Production and Investment Decisions Under Sunk Cost and Temporal Uncertainty
在Jorgenson新古典投资理论中引入沉没成本和时间不确定性，分析风险中性条件下二者如何影响资本隐含租金价值及投资、进入退出决策。
Abstract Building on Glenn Johnson's asset fixity theory, this article introduces sunk cost and temporal uncertainty in Jorgenson's neoclassical theory of investment. Under the assumption of risk neutrality, we show how sunk cost and temporal risk affect the implicit rental value of capital and investment and entry‐exit decisions. Results suggest there are important interactions between sunk cost and the effects of temporal uncertainty on production behavior.