Title: Liquidity Preference Under Uncertainty A Model of Dynamic Investment in Illiquid Assets, November 1978 Classic Reprint
Publisher: Forgotten Books
Publication Date: 2018
Language: English
ISBN 10: 0484417770
ISBN 13: 9780484417778
Binding: HRD
Condition: New
Weight: 270 grams

About this title

Synopsis

Explore how investors decide on long-term, illiquid investments when the future is uncertain.

This study outlines a dynamic, mathematical model of choosing irreversible investments under risk. It treats liquidity as a real trade-off between potential returns and the costs of locking capital away. The framework compares a liquid, short‑term alternative to a long‑lasting, illiquid opportunity and shows how an investor’s optimum depends on horizon length, lifetimes of assets, and the distribution of机会.

See how the concept of a liquidity premium arises and when it should be demanded.
Learn how the remaining time to the horizon shapes optimal hurdle rates over time.
Understand how the duration of investments and arrival patterns of opportunities affect decisions.
Recognize the differences between the model’s theoretical hurdle rates and actual market rate structures.

Ideal for readers interested in how rational investors allocate capital to irreversible projects under uncertainty, using a formal, continuous-time decision framework.

"About this title" may belong to another edition of this title.

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