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Information and InvestmentA Study in the Working of the Competitive Economy$
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G. B. Richardson

Print publication date: 1997

Print ISBN-13: 9780198292432

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292430.001.0001

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The Need for Adaptability

The Need for Adaptability

(p.143) VIII The Need for Adaptability
Information and Investment

G. B. Richardson

Oxford University Press

The information upon which investment decisions are based can never be complete; we have therefore to consider how firms deal with the residual uncertainty. How do firms envisage uncertainty and what strategies are employed in response to it? What objectives are set and in what ways do firms secure the adaptability, such as is provided by versatile plant and liquid reserves, needed to deal with unexpected circumstances ?

Keywords:   adaptability, expectations, liquidity, marketability, uncertainty

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