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The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...
Persistent link: https://www.econbiz.de/10003888036
The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...
Persistent link: https://www.econbiz.de/10003872827
Persistent link: https://www.econbiz.de/10003971036
The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework where demand shifts stochastically between three different states, each with different rates of drift and volatility. In our setting the shifts are governed by a three-state Markov...
Persistent link: https://www.econbiz.de/10013156881
Persistent link: https://www.econbiz.de/10003385463
Persistent link: https://www.econbiz.de/10001700878
Persistent link: https://www.econbiz.de/10001939806
particular focus on transaction costs and real option theory. The resulting typology of no-regret potentials serves to re …
Persistent link: https://www.econbiz.de/10013519238
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