We develop an economic theory of “flexibility”, which we interpret as the discretion orability to make a decision that … value of the flexibilityoption is decreasing in the extent to which the decisionmaker’s future decision-relevantopinion is … correlated with the opinions of others who may be able to impede the decision.We argue that flexibility drives economic decisions …

We examine in a large survey (n = 1,928) how contemplative entrepreneurs, managers and employees are in their decision … choices are partly in line with this: entrepreneurs make indeed more intuitive choices than managers, but are equally …) equal those of managers. Together these findings tentatively suggest that entrepreneurs start from a stronger prior …

We estimate the incremental financing decision for a sample of some 150Dutch companies for the years 1984 through 1997 …, we estimate a multinomial logit model whichconfirms several predictions of both the static trade-off theory and … thepecking-order theory as to the determinants of financing choices. Next, weuse ordered probit models to determine which …

works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice …