Huisman, K.J.M.; Kort, P.M. - CentER for Economic Research, Universiteit van Tilburg - 1999
This paper considers an investment timing problem in a dipole framework. The results of the seminal contribution by Fudenberg and Tirole (1985, RES) are extended by introduction of uncertainty. Three scenarios are identified. In the first scenario we have a preemption equilibrium with dispersed...