investment timings. Players choose when to invest in a nonrival project with uncertain returns. The earliest investor bears the … costs of investment and all players learn whether the project is of good or bad quality. Informational externalities create … free-riding incentives resulting in strategic delays in investment timings. Our theoretical analysis suggests that …

of uncertainty on travel times and the implications this has forestimations of travel time values has received much less … thatignoring uncertainty issues may easily lead to distorted estimates of values of travel time. Thisis of special relevance in …The value of travel time plays an important role in cost benefit analysis of infrastructureprojects. However, the issue …

to be a sustainable solution to unbalanced global economic developments. Remittances, Foreign Direct Investment (FDI) and … allocated generally to consumption rather than to investment purposes. Migration of a temporary nature in conjunction with …

how communication mitigates this free-riding problem in an investment-timing game. In our baseline investment-timing game … communicate before choosing the investment time. We find that in groups of two players, communication increases cooperation and … investor of the group bears the costs of investment while everyone in the group benefits if the project reveals high returns …

consistently underestimate the value of project flexibility and in general lead to overly conservative investment decisions in the …. First, empirical data are often characterized by time-varying volatility and fat tails; therefore we use Gaussian GAS … presence of time dependent stochastic structures. …

. Real option theory argues that research projects with conditional phases have option-like risk and return properties, and …

Classic real options theory rests on two debatable assumptions: projects require a fixed investment and generate cash … timing of investment. We model investment using a Stone-Geary production function (Leontief and Cobb-Douglas are special … intuitive; the moment of investment involves a trade-off between the level of the cash flow and its growth. For Cobb-Douglas, in …

and timing of new construction. We prove that rational developers postpone construction not because prospects are gloomy …