Free AccessImportant Keywordshttps://doi.org/10.14220/9783737013444.259SectionsPDF/EPUB ToolsAdd to favoritesDownload CitationsTrack Citations ShareShare onFacebookTwitterLinkedInRedditEmail About Previous chapter Next FiguresReferencesRelatedDetails Download book coverOsnabrücker Studien zur Jüdischen und Christlichen Bibel.Volume 8 1st editionISBN: 978-3-8471-1344-7 eISBN: 978-3-7370-1344-4Hi...

Most investment decisions present the following three characteristics: • Irreversibility: The investment is partially or completely sunk, i.e. it cannot be recovered. • Uncertainty: The best that can be done is to assess the probabilities of the alternative outcomes that can imply larger or smaller profits. • Timing: The decision can be postponed in order to get more information (but never comp...

We study partnership contracts under uncertainty but with clauses that admit downstream flexibility. The focus is on effects of flexibility on the synergy set, the core, of the contract. In a partnership context the value of flexibility is captured by the partners who own the right to exercise. On one side, there are cooperative options, which are exercised jointly and in the interest of maximi...

Recent court decisions, starting with the State Street decision in 1998, allow business methods to be patentable and now give …nancial institutions the option to seek patent protection for …nancial innovations. This new patentability paradigm and the heterogeneity of characteristics associated with …nancial innovations, poses an immediate decision problem for senior management: what to patent. ...