We investigate within a continuous time setting how Knightian uncertainty characterized by k-ignorance affects the optimal timing policies of a risk-neutral and uncertainty averse investor in the case where the exercise payoff is monotonic. We prove that increased Knightian uncertainty...

Environmental impact assessment is currently the major Brazilian institution that routinely seeks community input about infrastructure projects. It is criticized both by activists who think it permits projects it should not and by project proponents who think that it is too slow and blocks...

Voluntary environmental management programs for firms have become an increasingly popular instrument of environmental policy. However, the literature’s conclusion on the effectiveness of such programs is ambiguous, and for the European region there is a lack of evidence based on a large...

Im Rückgriff auf die Innovationsforschung wird ein Ansatz für eine gemeinsame Sprache und eine konsistente Systematik für Innovationen im Umweltbereich entwickelt. Dazu werden einige allgemeine Begriffsdefinitionen der Innovationsforschung erläutert, der Begriff Umweltinnovation eingeführt...