Investment under Uncertainty

Primary commodity prices: Co-movements, common factors and fundamentals

Byrne, J. P., Fazio, G., & Fiess, N. (2012) · Journal of Development Economics · doi:10.1016/j.jdeveco.2012.09.002 · Cited by 221

Dropout and Enrollment Trends in the Post-War Period: What Went Wrong in the 1970s?

Card, D., & Lemieux, T. (2000) · National Bureau of Economic Research · doi:10.3386/w7658 · Cited by 220

Corporate social responsibility and financial performance: correlation or misspecification?

McWilliams, A., & Siegel, D. S. (2000) · Strategic Management Journal · doi:10.1002/(sici)1097-0266(200005)21:5 · Cited by 3,812

Meeting User Needs for Sea Level Rise Information: A Decision Analysis Perspective

Hinkel, J., Church, J. A., Gregory, J. M., Lambert, E., Cozannet, G. L., Lowe, J. A., McInnes, K. L., Nicholls, R. J., van der Pol, T., & van de Wal, R. S. W. (2019) · Earth s Future · doi:10.1029/2018ef001071 · Cited by 229

Knowledge inventories and managerial myopia

Miller, K. D. (2002) · Strategic Management Journal · doi:10.1002/smj.245 · Cited by 214

Optimal bidding and contracting strategies for capital-intensive goods

Wu, D., Kleindorfer, P. R., & Zhang, J. E. (2002) · European Journal of Operational Research · doi:10.1016/s0377-2217(01)00093-5 · Cited by 208

Climate change uncertainty: building flexibility into water and flood risk infrastructure

Gersonius, B., Ashley, R., Pathirana, A., & Zevenbergen, C. (2012) · Climatic Change · doi:10.1007/s10584-012-0494-5 · Cited by 230

A real options model for renewable energy investment with application to solar photovoltaic power generation in China

Zhang, M. M., Zhou, P., & Zhou, D. (2016) · Energy Economics · doi:10.1016/j.eneco.2016.07.028 · Cited by 215

Optimal procurement strategies for online spot markets

Seifert, R. W., Thonemann, U. W., & Hausman, W. H. (2003) · European Journal of Operational Research · doi:10.1016/s0377-2217(02)00754-3 · Cited by 214

The option value of government guarantees in infrastructure projects

Brandão, L. E. T., & Saraiva, E. C. G. (2008) · Construction Management and Economics · doi:10.1080/01446190802428051 · Cited by 213

Risk Uncertainty and Supply Chain Decisions: A Real Options Perspective

Hult, G. T. M., Craighead, C. W., & Ketchen, D. J. (2010) · Decision Sciences · doi:10.1111/j.1540-5915.2010.00276.x · Cited by 212

Patents and R&D as Real Options

Schwartz, E. S. (2004) · Economic Notes · doi:10.1111/j.0391-5026.2004.00124.x · Cited by 213

Which Factors?

Hou, K., Mo, H., Chen, X., & Zhang, L. (2018) · European Finance Review · doi:10.1093/rof/rfy032 · Cited by 200

Agricultural credit problems and policies during the transition to a market economy in Central and Eastern Europe

Swinnen, J., & Gow, H. R. (1999) · Food Policy · doi:10.1016/s0306-9192(98)00067-0 · Cited by 217

A scenario based analysis of land competition between food and bioenergy production in the US

Johansson, D. J. A., & Azar, C. (2007) · Climatic Change · doi:10.1007/s10584-006-9208-1 · Cited by 207

Optimal Search for Product Information

Branco, F., Sun, M., & Villas‐Boas, J. M. (2012) · Management Science · doi:10.1287/mnsc.1120.1535 · Cited by 196

Decision-Making Under Scientific Uncertainty: The Economics of the Precautionary Principle

Gollier, C., & Treich, N. (2003) · Journal of Risk and Uncertainty · doi:10.1023/a:1025576823096 · Cited by 205

Linking Customer Assets to Financial Performance

Hogan, J. E., Lehmann, D. R., Merino, M., Srivastava, R. K., Thomas, J. S., & Verhoef, P. C. (2002) · Journal of Service Research · doi:10.1177/1094670502005001004 · Cited by 209

Innovation and Diffusion

Hall, B. H. (2004) · National Bureau of Economic Research · doi:10.3386/w10212 · Cited by 206

Capital Supply Uncertainty, Cash Holdings, and Investment

Hugonnier, J. N., Malamud, S., & Morellec, E. (2014) · Review of Financial Studies · doi:10.1093/rfs/hhu081 · Cited by 200

Value for Money? New Microeconometric Evidence on Public R&D Grants in Flanders

Dirk Czarnitzki, A., & Bento, C. L. (2012) · Research Policy · doi:10.1016/j.respol.2012.04.008 · Cited by 223

How Does Corporate Investment Respond to Increased Entry Threat?

Frésard, L., & Valta, P. (2015) · The Review of Corporate Finance Studies · doi:10.1093/rcfs/cfv015 · Cited by 210

A Real Options Approach to the Valuation of a Forestry Investment

Insley, M. C. (2002) · Journal of Environmental Economics and Management · doi:10.1006/jeem.2001.1209 · Cited by 204

EOQ models for a coordinated two-level international supply chain considering imperfect items and environmental impact

Wahab, M. I. M., Mamun, S. M. H., & Ongkunaruk, P. (2011) · International Journal of Production Economics · doi:10.1016/j.ijpe.2011.06.008 · Cited by 204

Continuous‐Time Methods in Finance: A Review and an Assessment

Sundaresan, S. M. (2000) · The Journal of Finance · doi:10.1111/0022-1082.00261 · Cited by 195

The value of management flexibility—a real option approach to investment evaluation

Yeo, K. T., & Fasheng, Q. (2003) · International Journal of Project Management · doi:10.1016/s0263-7863(02)00025-x · Cited by 202

The effects of CEO equity ownership and firm diversification on risk taking

Eisenmann, T. R. (2002) · Strategic Management Journal · doi:10.1002/smj.236 · Cited by 203

The economic modeling of strategy process: ?clean models? and ?dirty hands?

Khanna, T., Gulati, R., & Nohria, N. (2000) · Strategic Management Journal · doi:10.1002/1097-0266(200007)21:7 · Cited by 52

Creating value through foresight: First mover advantages and strategic agility

Vecchiato, R. (2014) · Technological Forecasting and Social Change · doi:10.1016/j.techfore.2014.08.016 · Cited by 199

Environmental Cost-Benefit Analysis

Atkinson, G., & Mourato, S. (2008) · Annual Review of Environment and Resources · doi:10.1146/annurev.environ.33.020107.112927 · Cited by 229

Investment timing and optimal capacity choice for small hydropower projects

Bøckman, T., Fleten, S., Juliussen, E., et al. (2007) · European Journal of Operational Research · doi:10.1016/j.ejor.2007.05.044 · Cited by 198

ANNIVERSARY ARTICLE: Option Pricing: Valuation Models and Applications

Broadie, M. N., & Detemple, J. B. (2004) · Management Science · doi:10.1287/mnsc.1040.0275 · Cited by 183

Geopolitical Risk and Investment

Wang, X., Wu, Y., & Xu, W. (2018) · Journal of money credit and banking · doi:10.1111/jmcb.13110 · Cited by 270

General Properties of Option Prices

Bergman, Y. Z., Grundy, B. D., & Wiener, Z. (1996) · The Journal of Finance · doi:10.1111/j.1540-6261.1996.tb05218.x · Cited by 218

Structural modelling of investment and financial constraints: Where do we stand?Preprint

Chatelain, J. (2002) · RePEc: Research Papers in Economics · doi:10.2139/ssrn.1691994 · Cited by 196

Explaining the Diversification DiscountPreprint

Campa, J. M., & Kedia, S. (2001) · SSRN Electronic Journal · doi:10.2139/ssrn.264763 · Cited by 197

Modeling long-term dynamics of electricity markets

Olsina, F. G., Garcés, F., & Haubrich, H. ‐. (2004) · Energy Policy · doi:10.1016/j.enpol.2004.11.003 · Cited by 196

Investmentless Growth: An Empirical Investigation

Gutiérrez, G., & Philippon, T. (2016) · Brookings Papers on Economic Activity · doi:10.1353/eca.2017.0013 · Cited by 420

Managing Capacity in the High-Tech Industry: A Review of Literature

Wu, S. D., Erkoc, M., & Karabük, S. (2005) · The Engineering Economist · doi:10.1080/00137910590949887 · Cited by 190

Managing risks in IT projects: an options perspective

Kumar, R. L. (2002) · Information & Management · doi:10.1016/s0378-7206(01)00133-1 · Cited by 195

Learning from History: Volatility and Financial Crises

Danı́elsson, J., Valenzuela, M., & Zer, I. (2018) · Review of Financial Studies · doi:10.1093/rfs/hhy049 · Cited by 208

Back to the Future: A Time-Calibrated Theory of Entrepreneurial Action

Wood, M. S., Bakker, R. M., & Fisher, G. (2019) · Academy of Management Review · doi:10.5465/amr.2018.0060 · Cited by 211

On the Design of Contingent Capital with a Market Trigger

Sundaresan, S. M., & WANG, Z. (2014) · The Journal of Finance · doi:10.1111/jofi.12134 · Cited by 193

From Minds to Markets

Gruber, M. B., MacMillan, I. C., & Thompson, J. D. (2010) · Journal of Management · doi:10.1177/0149206310386228 · Cited by 202

Strategic capacity investment under uncertainty

Huisman, K. J. M., & Kort, P. M. (2015) · The RAND Journal of Economics · doi:10.1111/1756-2171.12089 · Cited by 193

Assessing Technology Projects Using Real Options Reasoning

McGrath, R. G., & MacMillan, I. C. (2000) · Research-Technology Management · doi:10.1080/08956308.2000.11671367 · Cited by 192

Integrating ecology and economics in the study of ecosystem services: some lessons learned

Polasky, S., & Segerson, K. (2009) · Annual Review of Resource Economics · doi:10.1146/annurev.resource.050708.144110 · Cited by 192

Irreversible investment with regime shifts

Morellec, E., Guo, X., & Miao, J. (2005) · Infoscience (Ecole Polytechnique Fédérale de Lausanne) · doi:10.1016/j.jet.2004.04.005 · Cited by 191

Chapter 65 Microeconometric Models of Investment and Employment

Bond, S. R., & Reenen, J. M. V. (2007) · Handbook of econometrics · doi:10.1016/s1573-4412(07)06065-5 · Cited by 392

Real Options in International Joint Ventures

Reuer, J. J., & Tong, T. W. (2005) · Journal of Management · doi:10.1177/0149206304272184 · Cited by 183

Corporate investment, government control, and financing channels: Evidence from China's Listed Companies

Firth, M. A., Malatesta, P. H., Xin, Q., & Xu, L. (2012) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2012.01.004 · Cited by 184

Investment Under Uncertainty in Information Technology: Acquisition and Development Projects

Schwartz, E. S., & Zozaya‐Gorostiza, C. (2003) · Management Science · doi:10.1287/mnsc.49.1.57.12753 · Cited by 188

Is the risk of product market predation a cost of disclosure?

Bernard, D. (2016) · Journal of Accounting and Economics · doi:10.1016/j.jacceco.2016.07.001 · Cited by 189

Nonlinear response of firm investment to Q:

Barnett, S. A., & Sakellaris, P. (1998) · Journal of Monetary Economics · doi:10.1016/s0304-3932(98)00028-2 · Cited by 188

From planning to strategy in the electricity industry

Dyner, I., & Larsen, E. R. (2001) · Energy Policy · doi:10.1016/s0301-4215(01)00040-4 · Cited by 188

Adoption Versus Adaptation, with Emphasis on Climate Change

Zilberman, D., Zhao, J., & Heiman, A. (2010) · Annual Review of Resource Economics · doi:10.1146/annurev-resource-083110-115954 · Cited by 193

Managing market risk in energy

Denton, M., Palmer, A. J., Masiello, R. D., et al. (2003) · IEEE Transactions on Power Systems · doi:10.1109/tpwrs.2003.810681 · Cited by 186

What Drives Land-Use Change in the United States? A National Analysis of Landowner Decisions

Lubowski, R. N., Plantinga, A. J., & Stavins, R. N. (2007) · National Bureau of Economic Research · doi:10.3386/w13572 · Cited by 184

Uncertainty Traps*

Fajgelbaum, P., Schaal, E., & Taschereau-Dumouchel, M. (2017) · The Quarterly Journal of Economics · doi:10.1093/qje/qjx021 · Cited by 176

The Role of Firm Resources in Returns to Market Deployment

Slotegraaf, R. J., Moorman, C., & Inman, J. J. (2003) · Journal of Marketing Research · doi:10.1509/jmkr.40.3.295.19235 · Cited by 182

Real Options in Operations Research: A Review

Trigeorgis, L. G., & Tsekrekos, A. Ε. (2017) · European Journal of Operational Research · doi:10.1016/j.ejor.2017.11.055 · Cited by 181

Credible commitment in carbon policy

Brunner, S., Flachsland, C., & Marschinski, R. (2011) · Climate Policy · doi:10.1080/14693062.2011.582327 · Cited by 183

The Real Effects of Uncertainty on Merger Activity

Bhagwat, V., Dam, R. A., & Harford, J. (2016) · Review of Financial Studies · doi:10.1093/rfs/hhw061 · Cited by 182

Valuing the option to invest in an incomplete market

Henderson, V. (2007) · Mathematics and Financial Economics · doi:10.1007/s11579-007-0005-z · Cited by 182

Investment and Competition

Akdoğu, E., & MacKay, P. (2008) · Journal of Financial and Quantitative Analysis · doi:10.1017/s0022109000003537 · Cited by 167

Water resources planning under climate change: Assessing the robustness of real options for the Blue Nile

Jeuland, M., & Whittington, D. (2014) · Water Resources Research · doi:10.1002/2013wr013705 · Cited by 181

Optimal Investments in Power Generation Under Centralized and Decentralized Decision Making

Botterud, A., Ilić, M., & Wangensteen, I. (2005) · IEEE Transactions on Power Systems · doi:10.1109/tpwrs.2004.841217 · Cited by 181

Average Internal Rate of Return and Investment Decisions: A New Perspective

Magni, C. A. (2010) · The Engineering Economist · doi:10.1080/00137911003791856 · Cited by 181

A survey of decision-making approaches for climate change adaptation: Are robust methods the way forward?

Dittrich, R., Wreford, A., & Moran, D. (2016) · Ecological Economics · doi:10.1016/j.ecolecon.2015.12.006 · Cited by 201

On the Starting and Stopping Problem: Application in Reversible Investments

Hamadène, S., & Jeanblanc, M. (2007) · Mathematics of Operations Research · doi:10.1287/moor.1060.0228 · Cited by 181

Dynamic R&D Investment Policies

Childs, P. D., & Triantis, A. J. (1999) · Management Science · doi:10.1287/mnsc.45.10.1359 · Cited by 181

The Effects of Public Investment on Private Investment in Developing Economies

Erden, L., & Holcombe, R. G. (2005) · Public Finance Review · doi:10.1177/1091142105277627 · Cited by 180

Information Acquisition for Capacity Planning via Pricing and Advance Selling: When to Stop and Act?

Boyacı, T., & Özer, Ö. (2010) · Operations Research · doi:10.1287/opre.1100.0798 · Cited by 158

Firm capabilities and growth: the moderating role of market conditions

Feng, H., Morgan, N. A., & Rego, L. L. (2016) · Journal of the Academy of Marketing Science · doi:10.1007/s11747-016-0472-y · Cited by 182

Adaptive Flood Risk Management Under Climate Change Uncertainty Using Real Options and Optimization

Woodward, M., Kapelan, Z. S., & Gouldby, B. P. (2013) · Risk Analysis · doi:10.1111/risa.12088 · Cited by 174

Market frictions as building blocks of an organizational economics approach to strategic management

Mahoney, J. T., & Qian, L. (2013) · Strategic Management Journal · doi:10.1002/smj.2056 · Cited by 170

The Pontryagin maximum principle and optimal economic growth problems

Асеев, С. М., & Kryazhimskii, A. V. (2007) · Proceedings of the Steklov Institute of Mathematics · doi:10.1134/s0081543807020010 · Cited by 178

Information Revelation Through Option Exercise

Grenadier, S. R. (1999) · Review of Financial Studies · doi:10.1093/rfs/12.1.95 · Cited by 178

Political Instability, Uncertainty and Economics

Carmignani, F. (2003) · Journal of Economic Surveys · doi:10.1111/1467-6419.00187 · Cited by 187

A performance-oriented risk management framework for innovative R&D projects

Wang, J., Lin, W., & Huang, Y.-H. (2010) · Technovation · doi:10.1016/j.technovation.2010.07.003 · Cited by 177

Economic Uncertainty Before and During the COVID-19 Pandemic

Altig, D. E., Baker, S., Barrero, J. M., Bloom, N., Bunn, P., Chen, S., Davis, S. J., Leather, J., Meyer, B., Mihaylov, E., et al. (2020) · National Bureau of Economic Research · doi:10.3386/w27418 · Cited by 189

Risk-Neutral Pricing Approach for Evaluating BOT Highway Projects with Government Minimum Revenue Guarantee Options

Ashuri, B., Kashani, H., Molenaar, K. R., et al. (2011) · Journal of Construction Engineering and Management · doi:10.1061/(asce)co.1943-7862.0000447 · Cited by 176

Sustainable agriculture and plant diseases: an epidemiological perspective

Gilligan, C. A. (2007) · Philosophical Transactions of the Royal Society B Biological Sciences · doi:10.1098/rstb.2007.2181 · Cited by 176

The Impact of Uncertainty on Investment PlansPreprint

Butzen, P., Fuss, C., & Vermeulen, P. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1692687 · Cited by 176

Optimizing the level of renewable electric R&D expenditures using real options analysis

Davis, G. A., & Owens, B. N. (2003) · Energy Policy · doi:10.1016/s0301-4215(02)00225-2 · Cited by 175

Valuing Managerial Flexibility: An Application of Real-Option Theory to Mining Investments

Slade, M. E. (2001) · Journal of Environmental Economics and Management · doi:10.1006/jeem.2000.1139 · Cited by 173

Strategic Decisions of New Technology Adoption under Asymmetric Information: A Game‐Theoretic Model*

Zhu, K., & Weyant, J. P. (2003) · Decision Sciences · doi:10.1111/j.1540-5414.2003.02460.x · Cited by 174

From Fiction to Fact: The Growing Role of Generative AI in Business and Finance

Chen, B., Wu, Z., & Zhao, R. (2023) · Journal of Chinese Economic and Business Studies · doi:10.1080/14765284.2023.2245279 · Cited by 231

Project network models with discounted cash flows a guided tour through recent developments

Herroelen, W. S., Dommelen, P. V., & Demeulemeester, E. L. (1997) · European Journal of Operational Research · doi:10.1016/s0377-2217(96)00112-9 · Cited by 173

Uncertainty modeling of CCS investment strategy in China’s power sector

Zhou, W., Zhu, B., Fuss, S., Szolgayová, J., Obersteiner, M. H., & Fei, W. (2010) · Applied Energy · doi:10.1016/j.apenergy.2010.01.013 · Cited by 172

Optimal Debt and Equity Values in the Presence of Chapter 7 and Chapter 11

Broadie, M. N., Chernov, M., & Sundaresan, S. M. (2007) · The Journal of Finance · doi:10.1111/j.1540-6261.2007.01238.x · Cited by 172

The Effects of Financial Reporting and Disclosure on Corporate Investment: A ReviewPreprint

Roychowdhury, S., Shroff, N., & Verdi, R. S. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3364582 · Cited by 172

Searching for the sunk cost fallacy

Friedman, D., Pommerenke, K., Lukose, R. M., Milam, G. H., & Huberman, B. A. (2007) · Experimental Economics · doi:10.1007/s10683-006-9134-0 · Cited by 161

Estimating the rational expectations model of speculative storage: A Monte Carlo comparison of three simulation estimators

Michaelides, A., & Ng, S. (2000) · Journal of Econometrics · doi:10.1016/s0304-4076(99)00058-5 · Cited by 171

The Impact of Debt Financing on Entry and Exit in a Duopoly

Lambrecht, B. M. (2001) · Review of Financial Studies · doi:10.1093/rfs/14.3.765 · Cited by 171

The endogeneity of the exchange rate as a determinant of FDI: A model of entry and multinational firms

Russ, K. (2006) · Journal of International Economics · doi:10.1016/j.jinteco.2006.04.004 · Cited by 170

Measuring the Bioeconomy: Economics and Policies

Wesseler, J., & von Braun, J. (2017) · Annual Review of Resource Economics · doi:10.1146/annurev-resource-100516-053701 · Cited by 193

An Empirical Model of Optimal Dynamic Product Launch and Exit Under Demand Uncertainty

Hitsch, G. J. (2006) · Marketing Science · doi:10.1287/mksc.1050.0140 · Cited by 145

Asset prices and real investment

Kogan, L. (2004) · Journal of Financial Economics · doi:10.1016/j.jfineco.2003.12.002 · Cited by 169

Impact of climate policy uncertainty on the adoption of electricity generating technologies

Fuss, S., Johansson, D. J. A., Szolgayová, J., et al. (2008) · Energy Policy · doi:10.1016/j.enpol.2008.10.022 · Cited by 169

Fiscal Policy and the Terms of Trade in an Analytical Two-Country Dynamic Model

Bianconi, M. (2003) · International Tax and Public Finance · doi:10.1023/a:1022224928986 · Cited by 7

Monetary-fiscal policy interactions and the price level:Background and beyond

Leeper, E. M., & Yun, T. (2006) · International Tax and Public Finance · doi:10.1007/s10797-006-8599-2 · Cited by 40

Unemployment as excess supply of labor: Implications for wage and price inflation

Casares, M. (2010) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2009.12.002 · Cited by 16

Stabilisation, Policy Targets and Unemployment in Imperfectly Competitive Economies

Bratsiotis, G. J., & Martin, C. (1999) · Scandinavian Journal of Economics · doi:10.1111/1467-9442.00155 · Cited by 55

The macroeconomic impact of the nixon wage and price controls: A general equilibrium approach

Davidson, L. S. (1983) · Journal of Macroeconomics · doi:10.1016/0164-0704(83)90031-9