This paper examines the sub-game equilibrium strategies for a duopoly real option model consisting of two firms with asymmetric demand functions. The relative strength of the firms is found to have significant impact on the firms' equilibrium strategies. Preemptive strategies are critical if...

The Chinese real estate market has been experiencing rapid growth and transformation over the last few years. Real estate has been gradually accepted as one of the important asset classes in the portfolios of individual and institutional investors. It is therefore timely and pertinent to...