Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/30415
Título: | Investment decisions in finite-lived monopolies |
Autor(es): | Pereira, Paulo Jorge Rodrigues, Artur |
Palavras-chave: | Finite-lived monopolies Real option games Uncertainty Real options |
Data: | 2014 |
Editora: | Elsevier 1 |
Revista: | Journal of economic dynamics and control |
Resumo(s): | This paper studies the value and optimal timing for investment in finite-lived monopolies, extending the literature on real option games by considering the cases of random and certain-lived monopolies. Under these settings, firms face the risk of demonopolization, that can occur as a random or a certain event. We show that these new settings produce significantly different results when compared to the canonical monopolistic and duopolistic models. In a certain-lived monopoly, the leader invests sooner than in a duopoly if there is a risk of being preempted, and later than in a monopoly if the leader role is pre-assigned. In a random-lived monopoly, entry occurs somewhere between the duopoly and monopoly cases. Higher uncertainty delays investment in all cases. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/30415 |
DOI: | 10.1016/j.jedc.2014.07.003 |
ISSN: | 0165-1889 |
Versão da editora: | http://www.sciencedirect.com/science/article/pii/S0165188914001663 |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Investment decisions.pdf Acesso restrito! | Investment decisions in finite-lived monopolies | 7,34 MB | Adobe PDF | Ver/Abrir |