Wang, Honglin; Yu, Fan; Reardon, Thomas; Huang, Jikun; … - In: China Economic Review 27 (2013) C, pp. 104-120
This paper aims at an important gap in the literature, which has not modeled the effect of social learning in a real option context and examined uncertainty-reduction measures through social learning. This paper addresses the gap by modeling social learning as a way of reducing parameter...