This paper examines the role of uncertainty and imperfect local knowledge in foreign direct investment. The main idea … comes from the literature on investment under uncertainty, such as Pindyck (1991) and Dixit and Pindyck (1994). We … FDI. The uncertainty and irreversibility of FDI links the time interval between permission and actual execution of such …

with intertemporal welfare maximization under conditions of uncertainty about the future preferences. We show that these … function of the degree of risk aversion and parameters of the probability distribution governing the uncertainty about future …

, various authors have also expressed concerns regarding limits to substitution in consumption. Ideas about irreversibility in …

such as consumer surplus,network coverage or investment: in particular, we show that theregulator can achieve static and …

ability to recover the taxpayers` investment. These decisions exempted foreign sales, excluded some domestic sales on certain … of the taxpayers` $151 million investment in these six projects and may limit its opportunity to recover future …