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 …

taxes on investment timing under uncertainty and irreversibility and the propensity to carry out risky projects. Using a …-induced changes in investment timing may significantly affect the income and wealth distribution. We analyze the impact of wealth …-risk investments. Using either historical cost or fair value accounting may affect investment timing ambiguously. Thus, the design of …