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The equilibrium is derived in a real options game on the basis of a multidimensional state variable. In the game, firms optimize both investment time and project choice in projects that have not been chosen by the leading competitors. We demonstrate how the equilibrium changes with the number of firms, the number of projects, and the correlation between project values. Consistent with previous ...
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ژورنال
عنوان ژورنال: The Elementary School Journal
سال: 1921
ISSN: 0013-5984,1554-8279
DOI: 10.1086/455055