This paper revisits the important result of the real options approach to investment under uncertainty, which states … that increased uncertainty raises the value of waiting and thus decelerates investment.Typically in this literature … that investment projects are usually considered to have a .nite life.The present paper studies investment projects with …

This paper considers an investment timing problem in a duopoly framework. The results of the seminal contribution by … scenario we have a preemption equilibrium with dispersed investment timing, while in the second scenario an equilibrium with … joint investment prevails. In the third scenario preemption holds in case uncertainty is low, and joint investment is the …

For decision makers the variability in the net present value (NPV) of an investment project is an indication of the … about the stochastic character of the inputs. For large, longterm investment projects (such as energy infrastructures …

to influence the investment financing relation for two reasons.First, due to asymmetric information, the link between …This paper investigates whether investment spending of firms is sensitive to the availability of internal funds ….Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are not …

feature for the firm's investment policies are investigated in an optimal control problem with distributed parameters.It turns … out that investing in capital goods of di¤erent age is done such that the net present value of marginal investment equals … zero.Comparing the returns of investment in capital goods of different age, the higher productivity of younger capital …