The paper analyses the timing of spontaneous environmental innovation when second-mover advantages, arising from the expectation of declining investment costs, increase the option value of waiting created by investment irreversibility and uncertainty about private payoffs. We then focus on the...

This paper studies the benefit coming from bundling two sequential activities in a context of Public Private Partnerships (PPPs). Differently from previous literature, I introduce a source of asymmetric information in the form of an externality parameter linking the building stage with...

In this paper, we examine whether budget-constrained public authorities are more likely to use a PPP (Public Private Partnership) than traditional procurement methods. Then, we study the possible mechanisms underlying this choice. Our empirical test focuses on France and consists of a two-stage...

We try to determine whether it is better for a government to tighten or relax limits for immigrants in order to control migration inflows. To this end, we use a real option approach to migration choice that assumes that the decision to migrate can be described as an irreversible investment...

One of the reasons why workers'enterprises (WE) still represent a relevant chunk of the economy may lay in some affinities with conventional profit maximizing firms. To provide a solid basis to this presumption, we compare the entry policies of WEs and conventional firms when size is set at...

In a stochastic dynamic frame, we study the technology choice problem of a continuous co- digestion biogas plant where input factors are substitute but need to be mixed together to provide output. Given any initial rule for the composition of the feedstock, we consider the possibility of...

In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when...

Quality of health care is the product of several factors as the literature has long recognized. In this article we focus on the relationship between quality and investment in health technology by analysing the optimal investment decision in a new health care technology of a repre sentative...

This paper look at why most migration flows include observable jumps, a phenomenon that is in line with migration irreversibility. We have presented a real option model where the migration choice depends on both the wage differential between the host country and the country of origin, and on the...