Browsing Discussion papers (FOR) by Author "Hagspiel, Verena"
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Stepwise Investment and Capacity Sizing under Uncertainty
Chronopoulos, Michail; Hagspiel, Verena; Fleten, Stein-Erik (Discussion paper;10/15, Working paper, 2015-02-13)The relationship between uncertainty and managerial flexibility is particularly crucial in addressing capital projects. We consider a firm that can invest in a project in either a single (lumpy investment) or multiple ...