the parameters that determine the distribution of the expected returns on investment. During a crisis that increases … macroeconomic uncertainty and reduces asset prices, the threshold required return that triggers investment is lower for an informed … investor than for an uninformed investor. Simulation of the model suggests that when macroeconomic uncertainty is high …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

In a continuous-time framework we study the technology and investment choice problem of a continuous co … flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved … determining in the light of future prospects the optimal revision and then playing backward fixing the investment timing rule …

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief … shows that macroeconomic risk acts as an important deterrent to investments. -- business cycles ; real options ; investment …

the parameters that determine the distribution of the expected returns on investment. During a crisis that increases … macroeconomic uncertainty and reduces asset prices, the threshold required return that triggers investment is lower for an informed … investor than for an uninformed investor. Simulation of the model suggests that when macroeconomic uncertainty is high …