Optimal Procurement and Investment In New Technologies Under Uncertainty
Speaker
Gijsbert Zwart
Tilburg School of Economics and Management,
Tilburg University
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Abstract
We study a buyer's optimal investment strategy for new technologies when costs evolve stochastically and are private information to the suppliers. In a continuous time setting, we show how the asymmetric information on the stochastic variables leads to delays in investment compared to the real option benchmark. We also suggest a payment structure that implements the buyer's optimal investment timing as a Vickrey-type auction.
- This seminar is organised due to the job opening of assistant professor we currently have in the Organisation, Strategy and Entrepreneurship group.
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Information
- Type
- Research Seminar
- Programme
- Strategy & Entrepreneurship
- Date
- Fri. 14 Mar. 2014
- Time
- 11:15 - 12:15
- Location
- Tinbergen Building H12-30
Contact
Professor Applied Industrial Organization
Erasmus School of Economics (ESE),
Erasmus University Rotterdam
Coordinator
Professor Applied Industrial Organization
Erasmus School of Economics (ESE),
Erasmus University Rotterdam
Related events
Thu. 13 Jun. 2024
PhD Defence
Making a Life on the Margins: An ethnographic account from Kutupalong
S M Musa
(Erasmus University Rotterdam)