• Sequential Investment in Emerging Technologies under Policy Uncertainty 

      Sendstad, Lars Hegnes; Chronopoulos, Michail (Discussion paper;10/16, Working paper, 2016-06-14)
      Investment in emerging technologies is particularly challenging, since, apart from uncertainty in revenue streams, firms must also take into account both policy uncertainty and the random arrival of innovations. We assume ...
    • Strategic Technology Switching under Risk Aversion and Uncertainty 

      Sendstad, Lars Hegnes; Chronopoulos, Michail (Discussion paper;10/17, Working paper, 2017-09-12)
      Sequential investment opportunities or the presence of a rival typically hasten investment under risk neutrality. By contrast, greater price uncertainty or risk aversion increase the incentive to postpone investment in the ...