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References
See, e.g., Amram & Kulatilaka (1999), pp. 210–211.
Two-period adverse selection models include Laffont & Tirole (1988); Trauzettel (1999); Courty & Li (2000). For applications in capital budgeting see Antle & Fellingham (1990); Fellingham & Young (1990).
Even the model by Antle et al. (2000) which is closest to my work with respect to the methodology does not require these adjustments, because the waiting option has some properties that considerably simplify the analysis compared to a twostage investment.
See, e.g., Arrow (1985), p. 48.
Baiman (1990), p. 345.
See Davila (2003), p. 1398. for the relationship of intrinsic motivation and external rewards in the context of R&D.
See Friedl (2000), pp. 98–119; Grenadier (1996).
See, e.g., Friedl (2002b).
See Dutta & Reichelstein (2000) for a model analyzing these two classes of performance measure in the context of simple investment decisions without real options.
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(2007). Implications and Conclusions. In: Real Options and Investment Incentives. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-48268-0_6
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DOI: https://doi.org/10.1007/978-3-540-48268-0_6
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