Investment in emerging technologies is particularly challenging, since, apart from uncertainty in revenue streams, firms must also take into account both policy uncertainty and the random arrival of innovations. We assume that the former is reflected in the sudden provision and retraction of a...

In this paper it is shown that climate models are characterized by uncertainty and its causes are pointed out. It is well known that a higher greenhouse gas concentration raises the radiative forcing of the earth and the physics behind it is well understood. However, as regards the feedback...

Unlike the widespread adoption of information and communications technology (ICT) in much of the economy, adoption of ICT in clinical care is limited. We examine how a number of not previously emphasized features of the health care and ICT markets interact and exacerbate each other to create...