? -- 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 …

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 …