Browsing NHH Brage by Author "Siddiqui, Afzal"
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When is it better to wait for a new version? : optimal replacement of an emerging technology under uncertainty
Chronopoulos, Michail; Siddiqui, Afzal (Discussion papers;26/14, Working paper, 2014-06)We determine the optimal timing for replacement of an emerging technology facing uncertainty in both the output price and the arrival of new versions. Via a sequential investment framework, we determine the value of the ...