This paper considers the problem of investment timing under uncertainty in a duopoly framework.When both firms want to be the first investor a coordination problem arises.Here, a method is proposed to deal with this coordination problem, involving the use of symmetric mixed strategies.The method...

We consider a firm's decision to replace an existing production technology with a new, more cost-efficient one.Kulatilaka and Perotti [1998, Management Science] nd that, in a two-period model, increased product market uncertainty could encourage the firm to invest strategically in the new...