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The option value of vacant land and the optimal timing of city extensions
Lange, Rutger-Jan; Teulings, Coen N. - 2018
Classic real options theory rests on two debatable assumptions: projects require a fixed investment and generate cash flows that follow a random walk. Relaxing both assumptions leads to radically different conclusions regarding the optimal timing of investment. We model investment using a...
Persistent link: https://www.econbiz.de/10011813435
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Information at a cost
Robalo, Pedro; Sayag, Rei - 2012
Persistent link: https://www.econbiz.de/10009724308
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...
Persistent link: https://www.econbiz.de/10011349194
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Starting an R&D project under uncertainty
Dobbelaere, Sabien; Luttens, Roland Iwan; Peters, Bettina - 2010
differences in risk premia. We deduct testable hypotheses on the basis of which we empirically analyze the impact of uncertainty …
Persistent link: https://www.econbiz.de/10011378299
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Inherent efficiency, security markets, and the pricing of investment strategies
Zou, Liang - 2000
This paper applies the dichotomous theory of choice by Zou (2000a) tothe analysis of investmentstrategies and security markets. Issues concerning individualoptimality, (approximate) arbitrage,capital market equilibrium, and Pareto efficiency are studied undervarious market conditions. Among the...
Persistent link: https://www.econbiz.de/10011304380
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Investment, expectations and uncertainty : empirical evidence on the relevance of firm size
Koetse, Mark J.; Vlist, Arno J. van der; Groot, Henri … - 2003
This paper analyses the effect of uncertainty on investment spending. We analyse twotypes of investment, i.e. aggregate investment and investment in energy saving technologies,using subjective evaluations of expectations and uncertainty of Dutch firms in 1997. Weestimate several models...
Persistent link: https://www.econbiz.de/10011333261
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A comonotonic image of independence for additive risk measures
Goovaerts, Marc J.; Kaas, R.; Laeven, Roger J. A.; … - 2004
This paper presents a new axiomatic characterization of risk measures that are additive for independent random … variables. In contrast to previous work, we include an axiom that guarantees monotonicity of the risk measure. Furthermore, the …. The risk measure characterized can be regarded as a mixed exponential premium. …
Persistent link: https://www.econbiz.de/10011334834
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Deal or no deal? : decision-making under risk in a large-payoff game show
Post, Thierry; Baltussen, Guido; Assem, Martijn J. van den - 2006
outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable …
Persistent link: https://www.econbiz.de/10011348343
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Risk, balanced skills and entrepreneurship
Hsieh, Chihmao; Parker, Simon C.; Praag, Mirjam van - 2011
Persistent link: https://www.econbiz.de/10009720700
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Biodiversity prospecting over time and under uncertainty : a theory of sorts
Batabyal, Amitrajeet A.; Nijkamp, Peter - 2013
Biodiversity prospecting refers to the exploration of the commercial value of genetic and biochemical resources. In this chapter, we study a drug producing pharmaceutical firm (PF) that searches for potentially useful chemicals made by wild organisms in a conservation area. This PF is able to...
Persistent link: https://www.econbiz.de/10010224811