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The Real Options Effect of Uncertainty on Investment and Labor Demand
Investment labor demand uncertainty real options
2015/7/15
This paper shows that, contrary to common beliefs, the real options effect of uncertainty plays no role in the longrun rate of investment. This is proven for both the standard investment model with Co...
Optimal Aid in Environmental Policy A Real Options Approach
external effect direct aid social welfare environmental policy
2009/5/6
In this paper, we analyze an environmental policy that is designed to reduce the emission of pollutants when there is uncertainty over the social costs of environmental damage.We first establish a mod...
Valuing Corporate Growth Using Real Options
real growth option corporate valuation organic growth
2010/12/7
The corporate DCF model is often criticized for its limitations in valuing investments with significant multi-period growth opportunities. The current paper offers a practical methodology that employs...
On the Value–Volatility Relationship in a Real Options Model
investment analysis option-pricing theory finance
2010/12/7
In the analytical real options approach, the most important proposition that the value of the investment opportunity increases as the volatility increases has been proved by assuming the convexity of ...
Real Options in an Oligopoly Market
investment decision strategic substitution NPV criterion sequential
2010/12/7
This paper considers strategic entry decisions in an oligopoly market when the underlying state variable follows a geometric Brownian motion. It is shown that, even in the oligopoly case, three types ...
Real Options in an Oligopoly Market
investment decision strategic substitution NPV criterion
2010/12/7
This paper considers strategic entry decisions in an oligopoly market when the underlying state variable follows a geometric Brownian motion. It is shown that, even in the oligopoly case, three types ...