Maart, Syster Christin; Musshoff, Oliver; Odening, Martin; … - European Association of Agricultural Economists - EAAE - 2011
that real options models are able to predict actual disinvestment decisions better than traditional investment theory …. Nevertheless, the observed disinvestment reluctance was even more pronounced as predicted by theory. This finding suggests the … inclusion of bounded rationality into normative disinvestment models. …