1,721,312 research outputs found
Optimal abatement policies within a stochastic dynamic model of the firm
Full text linkTheory of Firm;microeconomics
A dynamic model of the firm with uncertain earnings and adjustment costs
Full text linkTheory of Firm;microeconomics
The effects of marketable pollution permits on the firm's optimal investment policies
Full text linkInvestment;Taxation;Pollution Control
Dynamic firm behaviour within an uncertain environment
Full text linkPortfolio Investment;Corporate Finance;Stock Exchanges;finance
The influence of a stochastic environment on the firm's optimal dynamic investment policy
Full text linkManagement Science;Financing
Pollution Control and the Dynamics of Firm : The Effects of Market Based Instruments on Optimal Firm Investments
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Optimal taxation on profit and pollution with a macroeconomic framework
Full text linkTaxation;Theory of Firm;Pollution;microeconomics
Strategic Investment Under Uncertainty: Merging Real Options with Game Theory
Full text linkAs becomes apparent from the standard text books in industrial organization (cf.Tirole, 1988, The Theory of Industrial Organization), the analysis of the e.ects of uncertainty within this field is yet underdeveloped.This paper shows that the new theory of strategic real options can be used to fill this empty hole .Based on the work by Smets (1991) standard models are identified, and they are analyzed by applying a method involving symmetric mixed strategies.As an illustration, extensions regarding asymmetry, technology adoption and decreasing uncertainty over time are reviewed.Among others, it is found that the value of a high cost firm can increase in its own cost.Furthermore, it is established to what extent investments are delayed when technologial progress is anticipated, and it is found that competition can be bad for welfare.productivity;innovation;technology;corporate finance;valuation;capital budgeting;investment;game theory;uncertainty
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