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THE INVESTMENT DECISION OF THE FIRM UNDER UNCERTAINTY AND THE ALLOCATIVE EFFICIENCY OF CAPITAL MARKETS

Authors

  • Niels Christian Nielsen


  • The Copenhagen School of Economics and Business Administration. I am grateful to professors Joel Demsky, Robert H. Litzenberger, William F. Sharpe and James C. Van Home of Stanford University, professor Frederick Grauer of M.I.T., and professor Alan Kraus of University of Washington for helpful and stimulating comments. In particular, I am indebted to Robert H. Litzenberger for many enlightening discussions on the topic of the present study.

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