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In a continuous-time framework we study the technology and investment choice problem of a continuous co …
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Using a comprehensive high-frequency foreign exchange dataset, we present evidence of time-of-day effects in foreign … pattern across a range of currencies and time zones. We also find that this pattern is reflected in order flow and suggest …
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Time overruns are common in public works and are not confined to inherently complex tasks. One explanation advanced in …. By exploiting the real-option approach, we examine how the inability to force sellers to meet the contract time … ; Cost Uncertainty ; Time Overruns ; Liquidated Damages ; Real Options …
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In this paper we apply a real-option model to study the effects of tax rate uncertainty on a firm's decisions. In doing so, we depart from the relevant literature, which focuses on fully equity-financed investment projects. By letting a representative firm borrow optimally, we show that debt...
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