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Now showing items 31-40 of 40
Innovation Investment in Two-Stage Games
(The MIT Press, 2011)
This chapter discusses the trade-off between commitment and flexibility in sequential investment settings. The focus is on two-stage competition models where real options analysis tools are combined with industry organization ...
Distress Risk, Growth and Earnings Quality
(2011)
We extend and complement prior work by investigating the earnings quality of firms with different financial health characteristics and growth prospects. By using three alternative measures of default likelihood and two ...
Option implied ambiguity and its information content: Evidence from the subprime crisis
(2018)
This paper studies option investors’ tendency to deviate from risk-neutrality around extreme financial events. We incorporate ambiguity into Black–Scholes theory and analyze the lead–lag association between option and stock ...
Market Structure Games: Dynamic Approaches
(2011)
This chapter extends the discussion began in Chapter 3 about dynamic models of oligopoly. It discusses two streams of models dealing with multiplayer decision-making in multistage settings. The chapter is organized as ...
Monopoly: Investment and Expansion Options
(The MIT Press, 2011)
This chapter examines the situation faced by a firm with exclusive access to a market or enjoying insurmountable structural barriers enabling it to ignore strategic interactions by rivals when devising its investment ...
An Integrative Approach to Strategy: Option Games
(The MIT Press., 2011)
This chapter first discusses how option games can provide useful insights to management faced with conflicting strategic choices. It highlights two issues: optimal investment timing and the trade-off between flexibility ...
Disruptive Innovation, Market Entry and Production Flexibility in Heterogeneous Oligopoly
(2019)
We develop a model of oligopoly competition involving innovation effort, market entry and production flexibility under demand uncertainty. Several heterogeneous firms make efforts to develop new prototypes