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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/10013156881
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/10005013955
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/10004982146
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/10010559449
analysis to investment decisions of strategic firms that anticipate competition on many consecutive spot markets with … fluctuating (and possibly uncertain) demand. We study how the degree of spot market competition affects investment incentives and …
Persistent link: https://www.econbiz.de/10003981050
price to demand. This benefit is decreasingin the level of market competition. Secondly, better information allowseach firm … ifthe other firm acquires better information. This benefit is inverseu-shaped in the level of competition. Based on which … competition. Given endogenous information acquisition decisions by firms, the effect of competition on consumer welfare is …
Persistent link: https://www.econbiz.de/10013217442
and competition from the fringe. We argue that when dominance is derived from first-mover advantages and innovation … feedback loops, rather than high and non-transitory barriers to entry, competition policy and regulation should avoid … from anti-competitive foreclosing abuses rather than from competition on the merits …
Persistent link: https://www.econbiz.de/10012828760
This paper focuses both on the competition process and the firms' liability in environmental protection and the … duopolistic competition model with strict liability, we show, first, that the way the firms assess the environmental question is …
Persistent link: https://www.econbiz.de/10014152074
competitive market for EV charging services. Competition should promote lower prices within the EV charging market and incentives …
Persistent link: https://www.econbiz.de/10014156522
We develop a model of dynamic interactions between price variations in leasing and selling markets for automobiles. Our framework assumes a differential game between multiple Bertrand-type competing firms which offer differentiated products to forward-looking agents. Empirical analysis of our...
Persistent link: https://www.econbiz.de/10012940174