{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,1,17]],"date-time":"2026-01-17T04:01:18Z","timestamp":1768622478016,"version":"3.49.0"},"reference-count":40,"publisher":"Springer Science and Business Media LLC","issue":"4","license":[{"start":{"date-parts":[[2010,8,20]],"date-time":"2010-08-20T00:00:00Z","timestamp":1282262400000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Finance Stoch"],"published-print":{"date-parts":[[2011,12]]},"DOI":"10.1007\/s00780-010-0131-y","type":"journal-article","created":{"date-parts":[[2010,8,19]],"date-time":"2010-08-19T20:52:28Z","timestamp":1282251148000},"page":"607-633","source":"Crossref","is-referenced-by-count":54,"title":["On irreversible investment"],"prefix":"10.1007","volume":"15","author":[{"given":"Frank","family":"Riedel","sequence":"first","affiliation":[]},{"given":"Xia","family":"Su","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2010,8,20]]},"reference":[{"key":"131_CR1","doi-asserted-by":"crossref","first-page":"581","DOI":"10.2307\/2297794","volume":"63","author":"A.B. Abel","year":"1996","unstructured":"Abel, A.B., Eberly, J.C.: Optimal investment with costly reversibility. Rev. Econ. Stud. 63, 581\u2013593 (1996)","journal-title":"Rev. Econ. Stud."},{"key":"131_CR2","doi-asserted-by":"crossref","first-page":"831","DOI":"10.1016\/S0165-1889(97)00005-5","volume":"21","author":"A.B. Abel","year":"1997","unstructured":"Abel, A.B., Eberly, J.C.: An exact solution for the investment and value of a firm facing uncertainty, adjustment costs, and irreversibility. J. Econ. Dyn. Control 21, 831\u2013852 (1997)","journal-title":"J. Econ. Dyn. Control"},{"key":"131_CR3","doi-asserted-by":"crossref","first-page":"339","DOI":"10.1016\/S0304-3932(99)00029-X","volume":"44","author":"A.B. Abel","year":"1999","unstructured":"Abel, A.B., Eberly, J.C.: The effects of irreversibility and uncertainty on capital accumulation. J. Mon. Econ. 44, 339\u2013377 (1999)","journal-title":"J. Mon. Econ."},{"key":"131_CR4","first-page":"1","volume-title":"Value, Capital, and Growth, Essays in Honor of Sir John Hicks","author":"K.J. Arrow","year":"1968","unstructured":"Arrow, K.J.: Optimal capital policy with irreversible investment. In: Wolfe, J.N. (ed.) Value, Capital, and Growth, Essays in Honor of Sir John Hicks, pp. 1\u201319. Edinburgh University Press, Edinburgh (1968)"},{"key":"131_CR5","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1016\/0022-247X(90)90237-A","volume":"151","author":"E. Balder","year":"1990","unstructured":"Balder, E.: New sequential compactness results for spaces of scalarly integrable functions. J. Math. Anal. Appl. 151, 1\u201316 (1990)","journal-title":"J. Math. Anal. Appl."},{"key":"131_CR6","doi-asserted-by":"crossref","first-page":"69","DOI":"10.1007\/s007800050017","volume":"1","author":"F.M. Baldursson","year":"1997","unstructured":"Baldursson, F.M., Karatzas, I.: Irreversible investment and industry equilibrium. Finance Stoch. 1, 69\u201389 (1997)","journal-title":"Finance Stoch."},{"key":"131_CR7","doi-asserted-by":"crossref","first-page":"1529","DOI":"10.1137\/040616966","volume":"44","author":"P. Bank","year":"2005","unstructured":"Bank, P.: Optimal control under a dynamic fuel constraint. SIAM J. Control Optim. 44, 1529\u20131541 (2005)","journal-title":"SIAM J. Control Optim."},{"key":"131_CR8","doi-asserted-by":"crossref","first-page":"1030","DOI":"10.1214\/aop\/1079021471","volume":"32","author":"P. Bank","year":"2004","unstructured":"Bank, P., El Karoui, N.: A stochastic representation theorem with applications to optimization and obstacle problems. Ann. Probab. 32, 1030\u20131067 (2004)","journal-title":"Ann. Probab."},{"key":"131_CR9","series-title":"Lecture Notes in Mathematics","doi-asserted-by":"crossref","first-page":"1","DOI":"10.1007\/978-3-540-44859-4_1","volume-title":"Paris\u2013Princeton Lectures in Finance 2002","author":"P. Bank","year":"2003","unstructured":"Bank, P., F\u00f6llmer, H.: American options, multi-armed bandits, and optimal consumption plans: A unified view. In: Carmona, R., et al. (eds.) Paris\u2013Princeton Lectures in Finance 2002. Lecture Notes in Mathematics, vol. 1814, pp. 1\u201342. Springer, New York (2003)"},{"key":"131_CR10","doi-asserted-by":"crossref","first-page":"750","DOI":"10.1214\/aoap\/1015345348","volume":"11","author":"P. Bank","year":"2001","unstructured":"Bank, P., Riedel, F.: Optimal consumption choice under uncertainty with intertemporal substitution. Ann. Appl. Probab. 11, 750\u2013788 (2001)","journal-title":"Ann. Appl. Probab."},{"key":"131_CR11","volume-title":"L\u00e9vy Processes","author":"J. Bertoin","year":"1996","unstructured":"Bertoin, J.: L\u00e9vy Processes. Cambridge University Press, Cambridge (1996)"},{"key":"131_CR12","doi-asserted-by":"crossref","first-page":"3","DOI":"10.1006\/reec.1997.0153","volume":"52","author":"G. Bertola","year":"1998","unstructured":"Bertola, G.: Irreversible investment. Res. Econ. 52, 3\u201337 (1998)","journal-title":"Res. Econ."},{"key":"131_CR13","doi-asserted-by":"crossref","first-page":"361","DOI":"10.2307\/2329250","volume":"50","author":"H. Bessembinder","year":"1995","unstructured":"Bessembinder, H., Coughenour, J.F., Seguin, P.J., Monroe Smoller, M.: Mean reversion in equilibrium asset prices: Evidence from the futures term structure. J. Finance 50, 361\u2013375 (1995)","journal-title":"J. Finance"},{"key":"131_CR14","doi-asserted-by":"crossref","first-page":"557","DOI":"10.1257\/0002828041464452","volume":"94","author":"S. Boyarchenko","year":"2004","unstructured":"Boyarchenko, S.: Irreversible decisions and record setting news principles. Am. Econ. Rev. 94, 557\u2013568 (2004)","journal-title":"Am. Econ. Rev."},{"issue":"1","key":"131_CR15","first-page":"2","volume":"6","author":"S. Boyarchenko","year":"2006","unstructured":"Boyarchenko, S., Levendorski\u012d, S.: General option exercise rules, with applications to embedded options and monopolistic expansion. B.E. J. Theor. Econ. 6(1), 2 (2006)","journal-title":"B.E. J. Theor. Econ."},{"key":"131_CR16","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1086\/338705","volume":"75","author":"P. Carr","year":"2002","unstructured":"Carr, P., Geman, H., Madan, D.B., Yor, M.: The fine structure of asset returns: An empirical investigation. J. Bus. 75, 305\u2013332 (2002)","journal-title":"J. Bus."},{"key":"131_CR17","doi-asserted-by":"crossref","first-page":"91","DOI":"10.1287\/moor.1040.0113","volume":"30","author":"M.B. Chiarolla","year":"2005","unstructured":"Chiarolla, M.B., Haussmann, U.B.: Explicit solution of a stochastic, irreversible investment problem and its moving threshold. Math. Oper. Res. 30, 91\u2013108 (2005)","journal-title":"Math. Oper. Res."},{"key":"131_CR18","doi-asserted-by":"crossref","first-page":"156","DOI":"10.2307\/1427378","volume":"19","author":"M.H.A. Davis","year":"1987","unstructured":"Davis, M.H.A., Dempster, M.A.H., Sethi, S.P., Vermes, D.: Optimal capacity expansion under uncertainty. Adv. Appl. Probab. 19, 156\u2013176 (1987)","journal-title":"Adv. Appl. Probab."},{"key":"131_CR19","doi-asserted-by":"crossref","first-page":"107","DOI":"10.1257\/jep.6.1.107","volume":"6","author":"A. Dixit","year":"1992","unstructured":"Dixit, A.: Investment and hysteresis. J. Econ. Perspect. 6, 107\u2013132 (1992)","journal-title":"J. Econ. Perspect."},{"key":"131_CR20","doi-asserted-by":"crossref","DOI":"10.1515\/9781400830176","volume-title":"Investment Under Uncertainty","author":"A.K. Dixit","year":"1994","unstructured":"Dixit, A.K., Pindyck, R.S.: Investment Under Uncertainty. Princeton University Press, Princeton (1994)"},{"key":"131_CR21","volume-title":"Measure Theory","author":"J.L. Doob","year":"1998","unstructured":"Doob, J.L.: Measure Theory. Springer, Heidelberg (1998)"},{"key":"131_CR22","doi-asserted-by":"crossref","first-page":"281","DOI":"10.2307\/3318481","volume":"1","author":"E. Eberlein","year":"1995","unstructured":"Eberlein, E., Keller, U.: Hyperbolic distributions in finance. Bernoulli 1, 281\u2013299 (1995)","journal-title":"Bernoulli"},{"key":"131_CR23","doi-asserted-by":"crossref","first-page":"3","DOI":"10.1016\/0304-405X(88)90020-7","volume":"22","author":"E. Fama","year":"1988","unstructured":"Fama, E., French, K.: Dividend yields and expected stock returns. J. Financ. Econ. 22, 3\u201327 (1988)","journal-title":"J. Financ. Econ."},{"key":"131_CR24","doi-asserted-by":"crossref","first-page":"691","DOI":"10.1093\/rfs\/15.3.691","volume":"15","author":"S.R. Grenadier","year":"2002","unstructured":"Grenadier, S.R.: Option exercise games: An application to the equilibrium investment strategies of firms. Rev. Financ. Stud. 15, 691\u2013721 (2002)","journal-title":"Rev. Financ. Stud."},{"key":"131_CR25","doi-asserted-by":"crossref","first-page":"37","DOI":"10.1016\/j.jet.2004.04.005","volume":"122","author":"X. Guo","year":"2005","unstructured":"Guo, X., Miao, J., Morellec, E.: Irreversible investment with regime shifts. J. Econ. Theory 122, 37\u201359 (2005)","journal-title":"J. Econ. Theory"},{"key":"131_CR26","doi-asserted-by":"crossref","first-page":"781","DOI":"10.2307\/2951566","volume":"60","author":"A. Hindy","year":"1992","unstructured":"Hindy, A., Huang, C.-F.: Intertemporal preferences for uncertain consumption: A continuous-time approach. Econometrica 60, 781\u2013801 (1992)","journal-title":"Econometrica"},{"key":"131_CR27","doi-asserted-by":"crossref","first-page":"401","DOI":"10.1016\/0304-4068(92)90032-3","volume":"21","author":"A. Hindy","year":"1992","unstructured":"Hindy, A., Huang, C.-F., Kreps, D.: On intertemporal preferences in continuous time. The case of certainty. J. Math. Econ. 21, 401\u2013440 (1992)","journal-title":"J. Math. Econ."},{"key":"131_CR28","first-page":"247","volume":"53","author":"D.W. Jorgenson","year":"1963","unstructured":"Jorgenson, D.W.: Capital theory and investment behavior. Am. Econ. Rev. 53, 247\u2013257 (1963)","journal-title":"Am. Econ. Rev."},{"key":"131_CR29","doi-asserted-by":"crossref","first-page":"237","DOI":"10.1007\/s007800050061","volume":"3","author":"Y. Kabanov","year":"1999","unstructured":"Kabanov, Y.: Hedging and liquidation under transaction costs in currency markets. Finance Stoch. 3, 237\u2013248 (1999)","journal-title":"Finance Stoch."},{"key":"131_CR30","first-page":"29","volume":"43","author":"T.\u00d8. Kobila","year":"1993","unstructured":"Kobila, T.\u00d8.: A class of solvable stochastic investment problems involving singular controls. Stochastics 43, 29\u201363 (1993)","journal-title":"Stochastics"},{"key":"131_CR31","doi-asserted-by":"crossref","first-page":"217","DOI":"10.1007\/BF02020976","volume":"18","author":"J. Koml\u00f3s","year":"1967","unstructured":"Koml\u00f3s, J.: A generalization of a problem of Steinhaus. Acta Math. Acad. Sci. Hung 18, 217\u2013229 (1967)","journal-title":"Acta Math. Acad. Sci. Hung"},{"key":"131_CR32","series-title":"Graduate Texts in Mathematics","doi-asserted-by":"crossref","DOI":"10.1007\/978-1-4612-6257-2","volume-title":"Probability Theory II","author":"M. Lo\u00e9ve","year":"1978","unstructured":"Lo\u00e9ve, M.: Probability Theory II, 4th edn. Graduate Texts in Mathematics, vol.\u00a046. Springer, New York (1978)","edition":"4"},{"key":"131_CR33","doi-asserted-by":"crossref","first-page":"707","DOI":"10.2307\/1884175","volume":"101","author":"R. McDonald","year":"1986","unstructured":"McDonald, R., Siegel, D.: The value of waiting to invest. Q. J. Econ. 101, 707\u2013727 (1986)","journal-title":"Q. J. Econ."},{"key":"131_CR34","doi-asserted-by":"crossref","first-page":"157","DOI":"10.2307\/2951479","volume":"62","author":"P. Milgrom","year":"1994","unstructured":"Milgrom, P., Shannon, C.: Monotone comparative statics. Econometrica 62, 157\u2013180 (1994)","journal-title":"Econometrica"},{"key":"131_CR35","doi-asserted-by":"crossref","first-page":"223","DOI":"10.1007\/s007800050013","volume":"4","author":"A. \u00d8ksendal","year":"2000","unstructured":"\u00d8ksendal, A.: Irreversible investment problems. Finance Stoch. 4, 223\u2013250 (2000)","journal-title":"Finance Stoch."},{"key":"131_CR36","first-page":"969","volume":"78","author":"R.S. Pindyck","year":"1988","unstructured":"Pindyck, R.S.: Irreversible investment, capacity choice, and the value of the firm. Am. Econ. Rev. 78, 969\u2013985 (1988)","journal-title":"Am. Econ. Rev."},{"key":"131_CR37","volume-title":"Foundations of Stochastic Inventory Theory","author":"E.L. Porteus","year":"1990","unstructured":"Porteus, E.L.: Foundations of Stochastic Inventory Theory. Stanford University Press, Stanford (1990)"},{"key":"131_CR38","unstructured":"Steg, J.H.: Irreversible investment in oligopoly. IMW Working Paper 415, Bielefeld University (2009). http:\/\/www.imw.uni-bielefeld.de\/research\/workingpapers.php"},{"key":"131_CR39","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1287\/opre.26.2.305","volume":"26","author":"D.M. Topkis","year":"1978","unstructured":"Topkis, D.M.: Minimizing a submodular function on a lattice. Oper. Res. 26, 305\u2013321 (1978)","journal-title":"Oper. Res."},{"key":"131_CR40","doi-asserted-by":"crossref","first-page":"259","DOI":"10.1080\/1045112031000155696","volume":"75","author":"H. Wang","year":"2003","unstructured":"Wang, H.: Capacity expansion with exponential jump diffusion processes. Stoch. Stoch. Rep. 75, 259\u2013274 (2003)","journal-title":"Stoch. Stoch. Rep."}],"container-title":["Finance and Stochastics"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00780-010-0131-y.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s00780-010-0131-y\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00780-010-0131-y","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2020,6,10]],"date-time":"2020-06-10T18:34:16Z","timestamp":1591814056000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s00780-010-0131-y"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2010,8,20]]},"references-count":40,"journal-issue":{"issue":"4","published-print":{"date-parts":[[2011,12]]}},"alternative-id":["131"],"URL":"https:\/\/doi.org\/10.1007\/s00780-010-0131-y","relation":{},"ISSN":["0949-2984","1432-1122"],"issn-type":[{"value":"0949-2984","type":"print"},{"value":"1432-1122","type":"electronic"}],"subject":[],"published":{"date-parts":[[2010,8,20]]}}}