expectation of declining investment costs, increase the option value of waiting created by investment irreversibility and … about firms' switching costs, auctioning investment grants appears to be a cost-effective way of accelerating pollution …

's investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a … total investment. We also evaluate the reduction in the firm's value due to profit sharing, linking this reduction to the …

, consumption, physical and environmental investment, trading of emissions rights (quantity and price). The results show that …

In a continuous-time framework we study the technology and investment choice problem of a continuous co … flexible technology allowing for such option. Investment is irreversible and flexibility is costly. The problem is solved … determining in the light of future prospects the optimal revision and then playing backward fixing the investment timing rule. …