consistently underestimate the value of project flexibility and in general lead to overly conservative investment decisions in the …

This paper analyses the effect of uncertainty on investment spending. We analyse twotypes of investment, i.e. aggregate … investment and investment in energy saving technologies,using subjective evaluations of expectations and uncertainty of Dutch … general investment spending. Furthermore, expectationsand uncertainty have important although different effects on investment …

’ adaptation to the loss situation and, subsequently, whether this adaptation affects future investment decisions. As investors … performance, together influence the decision to hold on to or to capitulate on an investment. We study the relative contribution … decision to capitulate an investment, however, only depends directly on the expectation about the stock’s future performance …

From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice … variable is the particular decision stage at which a global risk is resolved: (i) before the investment decision; (ii) after … the investment decision, but before the resolution of the decision risk; (iii) after the resolution of the decision risk …

investment in firm-specific cost reduction. They earn negative net profit in early periods, compensated later by strictlypositive …

investment in a public capital stock, and the inter-temporal consumption of a reproductive asset. …