Gürtler, Marc; Sieg, Gernot - 2008 - [Elektronische Ressource]
If the government announces the termination of a subsidy paid for an irreversible investment under uncertainty …, investors might decide to realize their investment so as to obtain the subsidy. These investors might have postponed an … investment if future payment were assured. Depending on the degree of uncertainty and the time preference, the termination of the …