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Investment in Fixed Capital and Competitive Industry Dynamics

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  • Currie, Martin
  • Kubin, Ingrid

Abstract

This paper explores the possibilities for complex dynamic behavior in an industry where a fixed capital good, once acquired and installed, is specific to that industry. A central theme is to understand the sorts of factors which can impose bounds on the behavior of market price and which can impart stability to the system. The analysis highlights the significance not only of the durability and specificity of physical capital goods but also of capacity (under-)utilization decisions and of the cautiousness of producers when expanding their capacities. Copyright 1997 by Royal Economic Society.

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  • Currie, Martin & Kubin, Ingrid, 1997. "Investment in Fixed Capital and Competitive Industry Dynamics," Oxford Economic Papers, Oxford University Press, vol. 49(4), pages 521-542, October.
    • Handle: RePEc:oup:oxecpp:v:49:y:1997:i:4:p:521-42
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    Cited by:

    1. Ingrid Kubin & Laura Gardini, 2013. "Border collision bifurcations in boom and bust cycles," Journal of Evolutionary Economics, Springer, vol. 23(4), pages 811-829, September.
    2. Ingrid Kubin & Laura Gardini, 2022. "On the significance of borders: the emergence of endogenous dynamics," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 41-62, January.

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