In this article I analyze strategic investment under uncertainty in a new market, where firms face a tradeoff between … highly profitable. If uncertainty is small, the model yields (approximately) Stackelberg outcomes …

games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …

games, beauty contests, and their applications. We elaborate on the distinct effects of strategic uncertainty relative to … fundamental uncertainty. We demonstrate the potential fragility of workhorse macroeconomic models to relaxations of common …

underestimates true economic cost. Valuation under uncertainty implies a risk premium or discount. Because the expenditure of … transaction cost reduces uncertainty, transaction cost and risk adjusted valuation are in dynamic tension. Under this approach … operating under uncertainty. Accordingly, this article rejects the normative axiom that litigation is inferior to settlement, a …