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Corporate Investment under Uncertainty and Pareto Optimality in the Capital Markets

Within the context of a mean-variance equilibrium model of the pricing of capital assets, this paper investigates the allocation of investment in new risky opportunities which results from the collective behavior of firms, each of which attempts to maximize the net increase in its market value.... Full description

1st Person: Jensen, Michael C.
Additional Persons: Long,, John B. verfasserin
Source: in The Bell journal of economics and management science Vol. 3, No. 1 (1972), p. 151-174
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Type of Publication: Article
Language: English
Published: 1972
Keywords: research-article
Online: Volltext
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