By considering the sequential nature of market entry and the contingency for subsequent reorientation following an initial commitment for research collaboration, we use an option framework to derive a value for the overall flexibility. In particular, we present critical thresholds for timing and...

We develop a structural model of retail store choices for which household shopping plans and price beliefs are endogenously determined. In our model individual households make their store choices based on their expected basket costs, which are determined by their shopping plans and price...