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Vertical integration and operational flexibility

Moretto, Michele (contributor); … - 2008

The main aim of the paper is to highlight the relation between flexibility and vertical integration. To this purpose, we go through the selection of the optimal degree of vertical disintegration of a flexible firm which operates in a dynamic uncertain environment. The enterprise we model enjoys...

Persistent link: https://www.econbiz.de/10003715357

Concession length and investment timing flexibility

Alpaos, Chiara D. (contributor); Dosi, Cesare (contributor); … - 2005

Persistent link: https://www.econbiz.de/10003358901

Static and dynamic efficiency of irreversible health care investments under alternative payment rules

Levaggi, Rosella; Moretto, Michele; Pertile, Paolo - 2010

patient) and a lump-sum component, efficiency can be ensured both in the timing of adoption (dynamic) and the intensity of use … efficiency. In this context, we also discuss how the regulator could use the control of the level of uncertainty faced by the … provider as an instrument to mitigate the trade-off between static and dynamic efficiency. Finally, the model is calibrated to …

Persistent link: https://www.econbiz.de/10008746927

An equilibrium model of habitat conservation under uncertainty and irreversibility

Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2010

In this paper stochastic dynamic programming is used to investigate habitat conservation by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural products when...

Persistent link: https://www.econbiz.de/10008780408

Investing in biogas : timing, technological choice and the value of flexibility from inputs mix

Di Corato, Luca; Moretto, Michele - 2009

In a continuous-time framework we study the technology and investment choice problem of a continuous co-digestion biogas plant dealing with randomly fluctuating relative convenience of input factor costs. Input factors enter into the productive process together mixed according to a given initial...

Persistent link: https://www.econbiz.de/10008823907

It is never too late : optimal penalty for investment delay in Italian public procurement contracts

D'Alpaos, Chiara; Moretto, Michele; Valbonesi, Paola; … - 2009

We provide a general framework in which to determine the optimal penalty fee inducing the contractor to respect the contracted delivery date in public procurement contracts (PPCs). We do this by developing a real option model that enables us to investigate the contractor's value of investment...

Persistent link: https://www.econbiz.de/10008823913

Wages, prices, and inflationary interia

Helpman, Elhanan; Leiderman, Leonardo - 1987

Persistent link: https://www.econbiz.de/10003575232

Concession bidding rules and investment time flexibility

Dosi, Cesare (contributor); Moretto, Michele (contributor) - 2007

Persistent link: https://www.econbiz.de/10003545932

Land conversion pace under uncertainty and irreversibility : too fast or too slow?

Di Corato, Luca; Moretto, Michele; Vergalli, Sergio - 2011

In this paper stochastic dynamic programming is used to investigate land conversion decisions taken by a multitude of landholders under uncertainty about the value of environmental services and irreversible development. We study land conversion under competition on the market for agricultural...

Persistent link: https://www.econbiz.de/10009379745

Investments in quality, collective reputation and information acquisition

Fontini, Fulvio; Millock, Katrin; Moretto, Michele - 2013

In many cases consumers cannot observe firms' investment in quality or safety, but have only beliefs on the average quality of the industry. In addition, the outcome of the collective investment game of the firms may be stochastic since firms cannot control perfectly the technology or external...

Persistent link: https://www.econbiz.de/10009757457