Isik, Murat; Coble, Keith H.; Hudson, Darren; House, Lisa O. - In: Agricultural Economics of Agricultural Economists 28 (2003) 3
capacity of the firm, involve irreversible investment and uncertainty about demand, cost or competition. This paper uses an … emerging market under demand uncertainty. Demand uncertainty and irreversibility of investment make investment less desirable … account demand uncertainty because it preserves the opportunity of making a better investment later. The active firm is more …