investment with vintage capital, namely, systems where all key variables (capitals, investments, prices) are indexed not only by … this general context. In particular, for optimal investment with vintage capital, existence and uniqueness of a long run … equilibrium distribution is proved for general concave revenues and convex investment costs, and analytic formulas are obtained …

This paper considers investment decisions within an uncertain dynamic and competitive framework. Each investment …

We study optimal investment in technologies characterized by the learning curve. There are two investment patterns … scale. If the curve is steep, firms invest earlier and on a smaller scale. We further demonstrate that learning investment … differs greatly from investment in technologies without learning effects. Learning investments generate substantial initial …

investment strategy. The objective is maximization of shareholder value. When tax depreciation differs from technical … depreciation, an additional investment not only generates value due to the fact that the firm can produce more, but also due to the … investment strategy, dividend policy, and long run capital stock level …

This paper revisits the important result of the real options approach to investment under uncertainty, which states … that increased uncertainty raises the value of waiting and thus decelerates investment. Typically in this literature … that investment projects are usually considered to have a finite life. The present paper studies investment projects with …