B. S. Bernanke, “Irreversibility, Uncertainty, and Cyclical Investment,” Quarterly Journal of Economics, Vol. 98, No. 1, 1983, pp. 85-106. doi:10.2307/1885568
has been cited by the following article:
TITLE: Investment Reluctance in Supply Chains: An Agent-Based Real Options Approach
AUTHORS: Alfons Balmann, Karin Kataria, Oliver Musshoff
KEYWORDS: Real Options; Supply Chain; Agent-Based Models; Genetic Algorithms
JOURNAL NAME: Journal of Mathematical Finance, Vol.3 No.2A, April 29, 2013
ABSTRACT: This paper shows how agent-based stochastic approaches can provide a complementary and more flexible approach to study investment incentives and price dynamics in a real options framework. We particularly study the case of two-stage production chains in which one sector produces an intermediate product and the other the final product, and the intermediate product is traded on the spot market. An agent-based competitive model using a genetic algorithm allows us to explicitly model the behaviors and interactions of the firms competing in each subsector and trading the intermediate product with each other on a spot market, and optimal investment strategies can be identified.