This essay studies the optimal timing for a firm to adopt a new process innovation in the presence of learning. A …

Diese Dissertation wurde von Johannes Pfeiffer während seiner Zeit am ifo Institut verfasst. Sie wurde im Dezember 2016 …

Behavioral (e.g. consumption) patterns of boundedly rational agents can lead these agents into learning dynamics that … preference learning that can inform the construction of alternative notions of dynamic well-being. Based on the assumption that …

The literature on environmental R&D frequently studies innovation as a two-stage process, with a single R&D event … leading from a conventional polluting technology to a perfectly clean backstop. We allow for uncertainty in innovation in that … once. Using and externding recent results from multi-stage optimal control theory, we provide a full characterization of …

present value of its profit stream in a continuous-time infinite-horizon framework by setting participation fees or quantities …

policy, but then delaying its implementation, is associated with a larger cumulative extraction at any point in time than …

equation is autonomous. The integrand in the integral criterion may contain the time explicitly, but it has to satisfy certain …

In a continuous-time framework we study the technology and investment choice problem of a continuous co …