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| Author: | Pacheco-de-Almeida, G. Zemsky, P. |
| Title: | The effect of time-to-build on strategic investment under uncertainty |
| Journal: | RAND Journal of Economics
2003 : SPRING, VOL. 34:1, p. 166-182 |
| Index terms: | Investment planning Strategic planning Uncertainty Industrial structure |
| Language: | eng |
| Abstract: | The authors show that time-to-build, which creates a lag between the decision to invest and production, is an important element of industry structure. They show how time-to-build affects firm heterogeneity, investment timing, the option value of waiting, the evolution of prices, and social welfare. |
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