Strategic investment under uncertainty: A synthesis

被引：64

作者：

Chevalier-Roignant, Benoit ^{[1
]}

Flath, Christoph M. ^{[2
]}

Huchzermeier, Arnd ^{[1
]}

Trigeorgis, Lenos ^{[3
]}

机构：

[1] WHU Otto Beisheim Sch Management, D-56179 Vallendar, Germany

[2] Karlsruhe Inst Technol, Inst Informat Syst & Management, D-76131 Karlsruhe, Germany

[3] Univ Cyprus, Dept Publ & Business Adm, CY-1678 Nicosia, Cyprus

来源：

EUROPEAN JOURNAL OF OPERATIONAL RESEARCH | 2011年 / 215卷 / 03期

关键词：

Finance; Investment analysis; Real options; Strategic investment; Option games; REAL-OPTIONS; IRREVERSIBLE INVESTMENT; TECHNOLOGY ADOPTION; GAMES; EQUILIBRIUM; INFORMATION; COMPETITION; PREEMPTION; OLIGOPOLY; EXERCISE;

D O I：

10.1016/j.ejor.2011.05.038

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

Investment is a central theme in economics, finance, and operational research. Traditionally, the focus of analysis has been either on assessing the value of flexibility (investment under uncertainty) or on describing commitment effects in competitive settings (industrial organization). Research contributions addressing the intersection of investment under uncertainty and industrial organization have become numerous in recent years. In this paper, we provide an overview aimed at categorizing and relating these research streams. We highlight managerial insights concerning the nature of competitive advantage (first- versus second-mover advantage), the manner in which information is revealed, firm heterogeneity, capital increment size, and the number of competing firms. (C) 2011 Elsevier B.V. All rights reserved.

引用

页码：639 / 650

页数：12

共 50 条

[31] PRIVATE INVESTMENT UNDER UNCERTAINTY IN GHANA
ARYEETEY, E
[J]. WORLD DEVELOPMENT, 1994, 22 (08) : 1211 - 1221
[32] Investment under uncertainty with financial constraints
Bolton, Patrick
Wang, Neng
Yang, Jinqiang
[J]. JOURNAL OF ECONOMIC THEORY, 2019, 184
[33] INVESTMENT UNDER UNCERTAINTY, COMPETITION AND REGULATION
Huu, Andrien Nguyen
[J]. JOURNAL OF DYNAMICS AND GAMES, 2014, 1 (04): : 579 - 598
[34] Investment under Uncertainty, Debt and Taxes
Gamba, Andrea
Sick, Gordon A.
Leon, Carmen Aranda
[J]. ECONOMIC NOTES, 2008, 37 (01) : 31 - 58
[35] An equilibrium model of investment under uncertainty
Novy-Marx, Robert
[J]. REVIEW OF FINANCIAL STUDIES, 2007, 20 (05): : 1461 - 1502
[36] On the investment sensitivity of debt under uncertainty
Baum, Christopher F.
Caglayan, Mustafa
Talavera, Oleksandr
[J]. ECONOMICS LETTERS, 2010, 106 (01) : 25 - 27
[37] MULTIOBJECTIVE INVESTMENT PLANNING UNDER UNCERTAINTY
CAPLIN, DA
KORNBLUTH, JSH
[J]. OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE, 1975, 3 (04): : 423 - 441
[38] The investment decision making under uncertainty
Borovicka, Adam
[J]. PROCEEDINGS OF 30TH INTERNATIONAL CONFERENCE MATHEMATICAL METHODS IN ECONOMICS, PTS I AND II, 2012, : 37 - 42
[39] INVESTMENT IN NETWORK EXPANSION UNDER UNCERTAINTY
MIDLER, JL
[J]. TRANSPORTATION RESEARCH, 1970, 4 (03): : 267 - +
[40] Endogenous Investment and Pricing under Uncertainty
Young, David
[J]. B E JOURNAL OF THEORETICAL ECONOMICS, 2010, 10 (01):

← 1 2 3 4 5 →