Strategic Technology Adoption and Market Dynamics as Option Games
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Dutta, Prajit K & Rustichini, Aldo, 1993.
"A Theory of Stopping Time Games with Applications to Product Innovations and Asset Sales,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(4), pages 743-763, October.
- Dutta, P.K. & Rustichini, A., 1991. "A Theory of stopping Time Games with Applications to Product Innovations and Asset Sales," RCER Working Papers 263, University of Rochester - Center for Economic Research (RCER).
- Helen Weeds, 2002.
"Strategic Delay in a Real Options Model of R&D Competition,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 69(3), pages 729-747.
- Weeds, H., 2000. "Strategic Delay in a Real Optimna Model of R&D Competition," The Warwick Economics Research Paper Series (TWERPS) 576, University of Warwick, Department of Economics.
- Mason, R. & Weeds, H., 2000.
"Networks, Options and Preemption,"
The Warwick Economics Research Paper Series (TWERPS)
575, University of Warwick, Department of Economics.
- Robin Mason & Helen Weeds, 2000. "Networks, Options and Preemption," Econometric Society World Congress 2000 Contributed Papers 1721, Econometric Society.
- Huisman, Kuno J. M. & Kort, Peter M., 2004.
"Strategic technology adoption taking into account future technological improvements: A real options approach,"
European Journal of Operational Research, Elsevier, vol. 159(3), pages 705-728, December.
- Huisman, K.J.M. & Kort, P.M., 2000. "Strategic Technology Adoptation Taking into Account Future Technological Improvements : A Real Options Approach," Other publications TiSEM 58197f38-6bbe-4797-b1f6-d, Tilburg University, School of Economics and Management.
- Huisman, K.J.M. & Kort, P.M., 2000. "Strategic Technology Adoptation Taking into Account Future Technological Improvements : A Real Options Approach," Discussion Paper 2000-52, Tilburg University, Center for Economic Research.
- Huisman, K.J.M. & Kort, P.M., 2004. "Strategic technology adoption taking into account future technological improvements : A real options approach," Other publications TiSEM cfab60d6-970e-4dc7-b11c-e, Tilburg University, School of Economics and Management.
- Dennis R. Capozza & Yuming Li, 2001. "Residential Investment and Interest Rates: An Empirical Test of Land Development as a Real Option," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 29(3), pages 503-519, March.
- Huisman, K.J.M. & Kort, P.M., 1999.
"Effects of Strategic Interactions on the Option Value of Waiting,"
Discussion Paper
1999-92, Tilburg University, Center for Economic Research.
- Huisman, K.J.M. & Kort, P.M., 1999. "Effects of Strategic Interactions on the Option Value of Waiting," Other publications TiSEM a867e9f4-7840-4335-83df-e, Tilburg University, School of Economics and Management.
- Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, December.
- Mason, Robin & Weeds, Helen, 2000. "Networks, Options and Preemption," Economic Research Papers 269346, University of Warwick - Department of Economics.
- Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474.
- Mason, R. & Weeds, H., 2000. "Networks, options and preemptions," Discussion Paper Series In Economics And Econometrics 0013, Economics Division, School of Social Sciences, University of Southampton.
- Capozza, Dennis & Li, Yuming, 1994. "The Intensity and Timing of Investment: The Case of Land," American Economic Review, American Economic Association, vol. 84(4), pages 889-904, September.
- Grenadier, Steven R. & Weiss, Allen M., 1997. "Investment in technological innovations: An option pricing approach," Journal of Financial Economics, Elsevier, vol. 44(3), pages 397-416, June.
- Merton, Robert C., 1976.
"Option pricing when underlying stock returns are discontinuous,"
Journal of Financial Economics, Elsevier, vol. 3(1-2), pages 125-144.
- Merton, Robert C., 1975. "Option pricing when underlying stock returns are discontinuous," Working papers 787-75., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Weeds, H., 1999. "Sleeping Patents and Computsory Licensing: An Options Analysis," The Warwick Economics Research Paper Series (TWERPS) 577, University of Warwick, Department of Economics.
- repec:fth:tilbur:9992 is not listed on IDEAS
- Williams, Joseph T, 1991. "Real Estate Development as an Option," The Journal of Real Estate Finance and Economics, Springer, vol. 4(2), pages 191-208, June.
- Weeds, Helen, 1999. "Sleeping Patents And Compulsory Licensing: An Options Analysis," Economic Research Papers 269348, University of Warwick - Department of Economics.
- Quigg, Laura, 1993. "Empirical Testing of Real Option-Pricing Models," Journal of Finance, American Finance Association, vol. 48(2), pages 621-640, June.
- Joseph T. Williams, 1997. "Redevelopment of Real Assets," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 25(3), pages 387-407, September.
- Grenadier, Steven R, 1996. "The Strategic Exercise of Options: Development Cascades and Overbuilding in Real Estate Markets," Journal of Finance, American Finance Association, vol. 51(5), pages 1653-1679, December.
- Mason, R. & Weeds, H., 2000. "Networks, options and preemptions," Discussion Paper Series In Economics And Econometrics 13, Economics Division, School of Social Sciences, University of Southampton.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Flavia Cortelezzi & Giovanni Villani, 2012. "Strategic R&D Investment Under Information Revelation," The Engineering Economist, Taylor & Francis Journals, vol. 57(1), pages 20-40.
- Giovanni Villani, 2009. "A Strategic R&D Investment with Flexible Development Time in Real Option Game Analysis," CESifo Working Paper Series 2728, CESifo.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Flavia Cortelezzi & Pierpaolo Giannoccolo & Giovanni Villani, 2011.
"Strategic Urban Development Under Uncertainty,"
The IUP Journal of Financial Economics, IUP Publications, vol. 0(4), pages 7-27, December.
- Flavia Cortelezzi & Pierpaolo Giannoccolo, 2006. "Strategic Urban Development under Uncertainty," Working Papers 20060601, Università degli Studi di Milano-Bicocca, Dipartimento di Statistica, revised Jun 2006.
- Lambrecht, Bart & Perraudin, William, 2003. "Real options and preemption under incomplete information," Journal of Economic Dynamics and Control, Elsevier, vol. 27(4), pages 619-643, February.
- Rose Neng Lai & Lawrence Hoc Nang Fong, 2021. "Development Strategies in a Market of High Vacancies and Sticky Rates – The Case of the Hotel Industry," International Real Estate Review, Global Social Science Institute, vol. 24(3), pages 363-383.
- Tan Lee & Jyh-Bang Jou, 2010. "Urban Spatial Development: a Real Options Approach," The Journal of Real Estate Finance and Economics, Springer, vol. 40(2), pages 161-187, February.
- Clapp, John M. & Bardos, Katsiaryna Salavei & Wong, S.K., 2012. "Empirical estimation of the option premium for residential redevelopment," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 240-256.
- Lander, Diane M. & Pinches, George E., 1998. "Challenges to the Practical Implementation of Modeling and Valuing Real Options," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(3, Part 2), pages 537-567.
- John Clapp & Katsiaryna Bardos & Tingyu Zhou, 2014. "Expansions and Contractions of Major US Shopping Centers," The Journal of Real Estate Finance and Economics, Springer, vol. 48(1), pages 16-56, January.
- Carlos Andrés Zapata Quimbayo, 2020. "OPCIONES REALES Una guía teórico-práctica para la valoración de inversiones bajo incertidumbre mediante modelos en tiempo discreto y simulación de Monte Carlo," Books, Universidad Externado de Colombia, Facultad de Finanzas, Gobierno y Relaciones Internacionales, number 138.
- Femminis, Gianluca & Martini, Gianmaria, 2011. "Irreversible investment and R&D spillovers in a dynamic duopoly," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1061-1090, July.
- Sendstad, Lars Hegnes & Chronopoulos, Michail, 2017. "Strategic Technology Switching under Risk Aversion and Uncertainty," Discussion Papers 2017/10, Norwegian School of Economics, Department of Business and Management Science.
- Ohyama, Atsuyuki & Tsujimura, Motoh, 2008. "Induced effects and technological innovation with strategic environmental policy," European Journal of Operational Research, Elsevier, vol. 190(3), pages 834-854, November.
- Andrianos Tsekrekos & George Kanoutos, 2013. "Real Options Premia Implied from Recent Transactions in the Greek Real Estate Market," The Journal of Real Estate Finance and Economics, Springer, vol. 47(1), pages 152-168, July.
- Hans Haanappel & Han Smit, 2007. "Return distributions of strategic growth options," Annals of Operations Research, Springer, vol. 151(1), pages 57-80, April.
- Arasteh, Abdollah, 2017. "Considering the investment decisions with real options games approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 1282-1294.
- Kuno J.M. Huisman & Peter M. Kort, 2015.
"Strategic capacity investment under uncertainty,"
RAND Journal of Economics, RAND Corporation, vol. 46(2), pages 376-408, June.
- Huisman, K.J.M. & Kort, P.M., 2013. "Strategic Capacity Investment Under uncertainty," Other publications TiSEM d8f47e8c-1550-4a51-b0fb-3, Tilburg University, School of Economics and Management.
- Huisman, K.J.M. & Kort, P.M., 2013. "Strategic Capacity Investment Under uncertainty," Discussion Paper 2013-003, Tilburg University, Center for Economic Research.
- Smit, Han T.J. & Trigeorgis, Lenos, 2006. "Real options and games: Competition, alliances and other applications of valuation and strategy," Review of Financial Economics, Elsevier, vol. 15(2), pages 95-112.
- Jeffrey Stokes, 2012. "The value of the option to preserve farm real estate," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 36(1), pages 162-175, January.
- Chevalier-Roignant, Benoît & Flath, Christoph M. & Huchzermeier, Arnd & Trigeorgis, Lenos, 2011. "Strategic investment under uncertainty: A synthesis," European Journal of Operational Research, Elsevier, vol. 215(3), pages 639-650, December.
- Jyh-Bang Jou & Tan Lee, 2007. "Do Tighter Restrictions on Density Retard Development?," The Journal of Real Estate Finance and Economics, Springer, vol. 34(2), pages 225-232, February.
- Sendstad, Lars Hegnes & Chronopoulos, Michail, 2021. "Strategic technology switching under risk aversion and uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 126(C).
More about this item
Keywords
Real Options; Stopping Timing Game; Asymmetric Demand.;All these keywords.
JEL classification:
- C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
- G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CFN-2007-09-16 (Corporate Finance)
- NEP-COM-2007-09-16 (Industrial Competition)
- NEP-CSE-2007-09-16 (Economics of Strategic Management)
- NEP-GTH-2007-09-16 (Game Theory)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ufg:qdsems:14-2007. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Luca Grilli (email available below). General contact details of provider: https://edirc.repec.org/data/emsfoit.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.