of the SMM criterion function. We illustrate the use of our method by estimating a neoclassical model of investment for a …

We study a buyer's optimal investment strategy for new technologies when costs evolve stochastically and are private … leads to delays in investment compared to the real option benchmark. We also suggest a payment structure that implements the … buyer's optimal investment timing as a Vickrey-type auction …

characterize the level of appropriability. From this characterisation, four representative mechanisms of R&D investment emerge …. When appropriability is weak, investment in more challenging innovations (with low probability of success) is pulled by the … demand, that is, low appropriability is supplemented by late R&D investment so that the market demand is sufficiently high to …

? -- MACROECONOMIC EVIDENCE: RELATIVE RATES OF INVESTMENT IN FIXED CAPITAL AND R&D -- SUMMARY AND CONCLUSION -- 2 Explaining Time … Capital -- Financial Markets and Technology Investments -- Investment Hurdle Rates and Technology Investments -- DETERMINANTS … OF COMPANY INVESTMENT TIME HORIZONS -- SUMMARY AND CONCLUSION -- 3 Company Time Horizons and Technology Investments: The …