Capital and Uncertainty: The Capital Investment Process in a Market Economy (The Locke Institute Series)

A study of capital, analyzing capital investment choice as a process. It is a non-mathematical text, modernizing and adding to the existing thought in this area, with insights from game theory, rational choice under uncertainty and new institutional economics. Dr Runge also draws upon 25 years of experience in setting out a practical exposition of the risk/return trade-off and how major capital investment decisions are made within firms. Topics covered include: the nature of capital investment decisions; entrepreneurship and the market order; capital investment choice processes; capital investment models; and capital decisions -choices between strategies.