We consider a firm that must undergo a costly and time-consuming regulatory process before making an irreversible … some time. We apply our model to Hydro Québec's project of building a 1250 megawatts interconnection with Ontario. We find … that the firm may start the regulatory process earlier if regulatory approval is valid long enough or if uncertainty is …

We study the interactions between the capital structure and the technological flexibility choices of firms in a duopoly …

technological flexibility may be either positive or negative, and it is sometimes better to observe than to be observed, and …

flexibility in contexts of asymmetric information and to characterize the general features of an appropriate response to this … necessary to generate the optimal level of inertia. We show that more flexibility in adapting to changing conditions or new … efforts and ex post flexibility of adaptation. Nous développons dans cet article un modèle principal-agent permettant de mieux …

large markets, the strategic value of flexibility is positive and observability of technological choices promotes the … adoption of more flexible technologies whereas in small markets, the strategic value of flexibility is negative and … observability decreases the level of flexibility chosen by firms. On étudie l'impact des conditions d'observation sur les choix de …

, choosing a level of technological or organisational flexibility, chhosing an optimal level of inertia) to better understand the …

building their capacity over time, firms compete à la Cournot in the product market given their installed capacity. There is no … invest simultaneously at a postponed time (hence holding back production in the meantime), thereby generating an investment …

flexibility in an appropriate way. L'objectif de ce cahier est de montrer comment la méthodologie des options réelles peut être …