207,680 research outputs found
Optimal dynamic investment policy under financial restrictions and adjustment costs
Management Science
The firm's investment policy under a concave adjustment cost function
Economics;Financing
Optimal R&D Investments of the Firm
This paper examines irreversible decisions on innovative activities where it takes time to complete an R&D project. The totala mountof R&D investments that the firm needs to undertake in order to obtain the breakthrough in the innovation process is uncertain. R&D investments are limited by the restriction that they must be self-financed. It is shown that R&D investmentsar e morev aluable when the level of uncertainty is large. Especially, it is very attractive to undertake R&D investments if a project faces many uncertainties during its ea rly phases. Furthermore we study how R&D behavior is inuenced by different levels of the discount rate and the financing limit. Moreover, the effects of R&D subsidies, spillover benefirts and a payoff that decreases over time are analyzed.research and development;investment;uncertainty
The effects of marketable pollution permits on the firm's optimal investment policies
Investment;Taxation;Pollution Control
Co-production between Governments, Interest Groups, Private Companies and Citizens - a Case Comparison of Vathorst, Spaanse Polder and Gelderse Vallei
Integrated area development projects and promising alternatives have in common that they surpass the values and possibilities of the individual parties (Burger e.a. 2003; Klijn, 1996). In the end solitary action will lead to resistance of other parties involved (and those interested). The ambition to make use of the promising alternatives requires collective action and co-production. In this paper ‘co-production arrangements’ in three cases will be explored and compared. The cases that are included in this paper are Vathorst, the development of a new housing area, Spaanse Polder, the restructuring of an industrial area and Gelderse Vallei, the reconstruction of a rural area
The flexible accelerator mechanism in a financial adjustment cost model
Production Function;econometrics
A dynamic model of the firm with uncertain earnings and adjustment costs
Theory of Firm;microeconomics
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