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 …. The adaptation level, by contrast, affects the actual investment decision indirectly via its impact on expectations. …

We provide an explanation why centralisation of political decision makingresults in overspending in some policy domains …

heterogeneity of committee members, this voting rule is suboptimal in terms of the quality of the interest rate decision, but …

We study a two-stage R&D project with an abandonment option. Two types of uncertainty influence the decision to start R … on the decision to start an R&D project. Using data for about 4000 German firms in manufacturing and services (CIS IV …