technologies under uncertainty. Specifically, given two technologies, one with lower costs at present, but the other with greater … uncertainty in the returns to R&D, how should one allocate the R&D budget? We develop a multi-stage stochastic dynamic programming … variance in the uncertainty in returns to R&D and with the skewness of the uncertainty. We also present an illustrative case …

In the last decades, technologies became more complex which increased the degree of uncertainty in R&D. To overcome the … uncertainty, firms frequently engage in R&D collaborations, e.g., Research Joint Ventures (RJVs), and licensing agreements. While … decision to engage in ex ante and ex post licensing is formulated with regard to uncertainty in R&D. While ex ante licensing …

Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this … adjustment, where cyclical changes in uncertainty correspond naturally to cyclical changes in the cross-sectional dispersion of …-level uncertainty varies over the cycle. This allows us to put empirical discipline on our numerical simulations. We find that, while …

errors in strategy implementation. In our data, we show that players indeed choose less lenient strategies in environments …

In an auction market, the auctioneer exerts significant influence in choosing and administering a selling strategy. We … affected by how much discretion the auctioneer has in choosing the selling strategy. Specifically, we find that raising the …

impact of uncertainty and real options on the decision of working time, i.e. we examines the determinants of employment and …

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …