Fixed Investment and Capital Flows : A Real Options Approach

A Real Options Approach

Fixed Investment and Capital Flows : A Real Options Approach
This paper draws a link between international capital flows and the real options approach to investment by extending a model of real estate investment. It explains gradual investment, investment booms, and investment during recessions and emphasizes sunk costs, uncertainty, and the value of waiting. The optimal waiting time increases as foreign... READ MORE...

Publication date: August 1998
ISBN 9781451937398
$15.00

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