, Bertrand competition and multi-stage R&D with an abandonment option, our model includes demand uncertainty, modelled as a … which lottery probabilities more divergent demand lotteries positively or negatively affect the decision to start R&D. Using … prevail a 10% increase in the degree of divergence of the demand lottery increases the likelihood of undertaking R&D by 1 …

demand elicitation effect. Both stem from the risk of unmet demand, which is characteristic of capacity decisions under … standard financial claims (debt, equity, etc.). We find that when higher demand realizations are more indicative of high effort …

The paper studies an duopoly with risk averse firms exposed to demand uncertainty. A risk sharing market is introduced …Die vorliegende Arbeit untersucht ein Duopol bei unsicherer Nachfrage unter Risikoaversion. Die Produktion der gesamten … Terminmarkt erhalten. -- Nachfrageunsicherheit ; Duopol ; Terminmarkt ; Risikopolitik …

capital accumulation. In this paper, we consider a firm facing a linear demand function with additive shocks and present a …