Narrow search
Showing 1 - 10 of 6,584
Cover Image
Investment Under Uncertainty and Time-Inconsistent Preferences
Grenadier, Steven R.; Wang, Neng - 2021
The real options framework has been used extensively to analyze the timing of investment under uncertainty. While standard real options models assume that agents possess a constant rate of time preference, there is substantial evidence that agents are very impatient about choices in the...
Persistent link: https://www.econbiz.de/10013226097
Cover Image
R&D Investments with Competitive Interactions
Miltersen, Kristian R. - 2012
In this article we develop a model to analyze patent-protected R&D investment projects when there is (imperfect) competition in the development and marketing of the resulting product. The competitive interactions that occur substantially complicate the solution of the problem since the decision...
Persistent link: https://www.econbiz.de/10013115937
Cover Image
Real Options, Taxes and Financial Leverage
Myers, Stewart C. - 2012
value (APV). The risk-free rate of interest must be after-tax. Debt capacity depends on the APV and target debt ratio for … the underlying asset, on the option delta and on the amount of risk-free borrowing or lending that would be needed for … follow the tradeoff theory of capital structure will be lower than target ratios for assets in place. Our results can …
Persistent link: https://www.econbiz.de/10013104988
Cover Image
The Valuation of Fisheries Rights : A Real Options Approach
Pizarro, Jose - 2018
This article develops and implements a Real Option approach to value renewable natural resources in the case of Marine Fisheries. The model includes two sources of uncertainty: the resource biomass and the price of fish, and it can be used by fisheries to optimally adapt their harvesting...
Persistent link: https://www.econbiz.de/10012909855
Cover Image
Flexible Production and Entry : Institutional, Technological, and Organizational Determinants
Belenzon, Sharon - 2019
Academics, the media, and policymakers have all raised concerns about the implications of human workers being replaced by machines or software. Few have discussed the implications of the reverse: firms' ability to replace capital with workers. We show that this flexibility can help new firms...
Persistent link: https://www.econbiz.de/10012890476
Cover Image
Sunk Costs and Real Options in Antitrust
Pindyck, Robert S. - 2021
Sunk costs play a central role in antitrust economics, but are often misunderstood and mismeasured. I will try to clarify some of the conceptual and empirical issues related to sunk costs, and explain their implications for antitrust analysis. I will be particularly concerned with the role of...
Persistent link: https://www.econbiz.de/10013237049
Cover Image
Firm Location and the Creation and Utilization of Human Capital
Almazan, Andres; De Motta, Adolfo; Titman, Sheridan - 2021
This paper presents a theory of location choice that draws on insights from the incomplete contracts and investment …
Persistent link: https://www.econbiz.de/10013247436
Cover Image
Cascades in Networks and Aggregate Volatility
Acemoglu, Daron - 2010
We provide a general framework for the study of cascade effects created by interconnections between sectors, firms or financial institutions. Focusing on a multi sector economy linked through a supply network, we show how structural properties of the supply network determine both whether...
Persistent link: https://www.econbiz.de/10013136361
Cover Image
Entrepreneurship in International Trade
Rauch, James E. - 2011
Motivated by evidence on the importance of incomplete information and networks in international trade, we investigate the supply of 'network intermediation.' We hypothesize that the agents who become international trade intermediaries first accumulate networks of foreign contacts while working...
Persistent link: https://www.econbiz.de/10013125439
Cover Image
Cherries for Sale : Export Networks and the Incidence of Cross-Border M&A
Blonigen, Bruce A. - 2012
network as valuable to serve independently, increasing the surplus generated by a foreign acquisition. From the theory we …
Persistent link: https://www.econbiz.de/10013100356