In this article we develop a model to analyze patent-protected R&D investment projects when there is (imperfect) competition in the development and marketing of the resulting product. The competitive interactions that occur substantially complicate the solution of the problem since the decision...

We develop a new approach to dealing with real options problems with uncertain maturity. This type of situation is typical for Ramp;D investments and mine or oil exploration projects. These types of projects are characterized by significant on-going investment costs until completion. Since time...

This paper examines the role of the federal government in the market for terrorism reinsurance. We investigate the stock price response of affected industries to a sequence of thirteen events culminating in the enactment of the Terrorism Risk Insurance Act (TRIA) of 2002. In the industries most...