timing of investment are studied. With simultaneous investments, equilibria in which players play a pure strategy in the … investment stage are asymmetric, exhibit incomplete rent dissipation, and expected effort is reduced relative to the game without … investment. There also are symmetric mixed strategy equilibria with complete rent dissipation. With sequential investment, the …

paper we address two issues related to the effects of MLA on risky investment decisions. First, we assess the relative … impact of feedback frequency and investment flexibility (via the investment horizon) on risky investments. Second, given that … we observe higher investments with a longer investment horizon, we examine conditions under which investors might …