How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditio

How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditio

The study of investment under uncertainty was stagnant for several decades until developments in real options revitalized the field. The topics covered in this

This book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach;

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot