• Title of article

    Capital gains and asset switching

  • Author/Authors

    Hartwick، نويسنده , , John M، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 1995
  • Pages
    5
  • From page
    63
  • To page
    67
  • Abstract
    We consider an uncertain asset defined on a Wiener dividend process, which can be exited to a certain asset for low realizations of the dividend (and asset value). We characterize the value that triggers exit (and re-entry) and observe that pure capital gains in the asset define the switch point. We observe an option value of the possibility of exit and note some links between our set-up and an alternative measurement of risk aversion.
  • Keywords
    Capital gains , Asset switching
  • Journal title
    Economics Letters
  • Serial Year
    1995
  • Journal title
    Economics Letters
  • Record number

    433833