We study a two-stage R&D project with an abandonment option. Two types of uncertainty influence the decision to start R&D. Demand uncertainty is modelled as a lottery between a proportional increase and decrease in demand. Technical uncertainty is modelled as a lottery between a decrease and...

The papers of the dissertation focus on decision making under uncertainty of farmers in developed and developing countries and apply experimental approaches in order to investigate farmersʾ risk attitude and investment behavior. The first paper experimentally examines the investment and...

The global economic crisis of 2008/2009 hit many firms hard. Faced with rapidly declining sales and highly uncertain economic prospects, firms had to cut costs and reconsider their business strategies. With respect to innovation, cost cutting often means to stop or underresource innovation...