منابع مشابه
Preemptive Investment under Uncertainty
This paper provides a general characterization of subgame-perfect equilibria for a strategic timing problem, where two firms have the (real) option to invest irreversibly in some market. Profit streams are uncertain and depend on the market structure. The analysis of the problem emphasizes its dynamic nature and exploits only its economic structure. In particular, the determination of equilibri...
متن کاملInvestment Under Uncertainty
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متن کاملPreemptive patenting under uncertainty and asymmetric information
This paper examines the investment behaviour of an incumbent and a po tential entrant that are competing for a patent with a stochastic payo We incorporate asymmetric information into the model by assuming that the chal lenger has complete information about the incumbent whereas the latter does not know the precise value of its opponent s investment cost We nd that even a small probability of b...
متن کاملStrategic Capacity Investment Under Uncertainty
Contrary to most of the papers in the literature of investment under uncertainty we study models that not only capture the timing, but also the size of the investment. We consider a monopoly setting as well as a duopoly setting and compare the results with the standard models in which the firms do not have the capacity choice. Our main results are the following. First, for low uncertainty value...
متن کاملCompetitive Capacity Investment under Uncertainty
We consider a long-term capacity investment problem in a competitive market under demand uncertainty. Two firms move sequentially in the competition and a firm’s capacity decision interacts with the other firm’s current and future capacity. Throughout the investment race, a firm can either choose to plan its investments proactively, taking into account possible responses from the other firm, or...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2015
ISSN: 1556-5068
DOI: 10.2139/ssrn.2689572