scholarly journals Estimating the Option Value of Waiting: A Dynamic Entry Game of the U.S. Local Telephone Competition

2010 ◽  
Author(s):  
Ying Fan Fan ◽  
Mo Xiao
Keyword(s):  
Option Value ◽  
Telephone Competition ◽  
Option Value Of Waiting ◽  
The U.S

scholarly journals ENVIRONMENTAL INNOVATION, WAR OF ATTRITION AND INVESTMENT GRANTS

2010 ◽  
Vol 12 (01) ◽  
pp. 37-59 ◽  
Author(s):  
CESARE DOSI ◽  
MICHELE MORETTO
Keyword(s):  
Technological Change ◽  
Incomplete Information ◽  
Switching Costs ◽  
Pollution Abatement ◽  
Cost Effective ◽  
Option Value ◽  
Environmental Innovation ◽  
War Of Attrition ◽  
Public Subsidies ◽  
Option Value Of Waiting

The paper analyses the timing of spontaneous environmental innovation when second-mover advantages, arising from the expectation of declining investment costs, increase the option value of waiting created by investment irreversibility and uncertainty about private payoffs. We then focus on the design of public subsidies aimed at bridging the gap between the spontaneous time of technological change and the socially desirable one. Under network externalities and incomplete information about firms' switching costs, auctioning investment grants appears to be a cost-effective way of accelerating pollution abatement, in that it allows targeting grants instead of subsidizing the entire industry indiscriminately.

Strategic Technology Options in the Wireless Industry

2011 ◽  
pp. 46-64
Author(s):  
Hak Ju Kim ◽  
Martin B.H. Weiss ◽  
Benoit Morel
Keyword(s):  
Wireless Network ◽  
Real Option ◽  
New Technologies ◽  
Option Value ◽  
Preliminary Results ◽  
Network Technologies ◽  
The U.S ◽  
Wireless Industry

The major U.S. wireless operators already have announced their plans for the evolution of their networks towards 3G, but some uncertainties remain, such as emergence of new technologies (WiMAX and WLAN) and the consolidation among operators (AT&T Mobile and Sprint Nextel). The article discusses a real option based model for technology decisionsand applies it to the U.S. wireless industry as a case study. We also discuss what decisions must be made, what the outcomes are, and how the options model is validated. The preliminary results show that the evolution of wireless network technologies between generations (inter-generations migration scenario) is desirable (a positive net option value), but not desirable (a negative net option value) within generations (intra-generation migration scenario), in the U.S.

scholarly journals Oil volatility and the option value of waiting: An analysis of the G-7

2010 ◽  
Vol 31 (7) ◽  
pp. 679-702 ◽  
Author(s):  
Don Bredin ◽  
John Elder ◽  
Stilianos Fountas
Keyword(s):  
Option Value ◽  
Option Value Of Waiting

Nonlinearities in Interregional Migration Behavior

2016 ◽  
Vol 40 (6) ◽  
pp. 563-589 ◽  
Author(s):  
Roberto Basile ◽  
Jaewon Lim
Keyword(s):  
Wage Differentials ◽  
The United States ◽  
Decision Criterion ◽  
Migration Decision ◽  
Migration Behavior ◽  
Option Value ◽  
Interregional Migration ◽  
Migration Flows ◽  
Option Value Of Waiting ◽  
Alternative Theories

Traditional “Marshallian” theories predict a linear relationship between internal migration and regional wage differentials. Using panel data on gross place-to-place migration flows in the United States, we estimate a semiparametric version of the modified gravity model and find evidence of a nonlinear effect of wage differentials in line with alternative theories of interregional migration, including the “option value of waiting” theory, liquidity constraints, and wealth-conditioned immobility. Traditionally, the migration decision process is believed to be mainly composed of two criteria: “whether to move” and “where to move.” However, the empirical evidence of nonlinearity found in this study supports the potential presence of another important decision criterion, “when to move” on interregional migration.

Strategic Technology Options in the Wireless Industry

2010 ◽  
pp. 571-589
Author(s):  
Hak j. Kim ◽  
Marin B. Weiss ◽  
Benoit Morel
Keyword(s):  
Wireless Network ◽  
Real Option ◽  
New Technologies ◽  
Option Value ◽  
Preliminary Results ◽  
Network Technologies ◽  
The U.S ◽  
Wireless Industry

The major U.S. wireless operators already have announced their plans for the evolution of their networks towards 3G, but some uncertainties remain, such as emergence of new technologies (WiMAX and WLAN) and the consolidation among operators (AT&T Mobile and Sprint Nextel). The article discusses a real option based model for technology decisionsand applies it to the U.S. wireless industry as a case study. We also discuss what decisions must be made, what the outcomes are, and how the options model is validated. The preliminary results show that the evolution of wireless network technologies between generations (inter-generations migration scenario) is desirable (a positive net option value), but not desirable (a negative net option value) within generations (intra-generation migration scenario), in the U.S.

Real Options, Conflicting Valuations, and Favoritism

2003 ◽  
Vol 3 (1) ◽  
Author(s):  
Anil Arya ◽  
Jonathan Glover
Keyword(s):  
Real Options ◽  
Option Value ◽  
Optimal Assignment ◽  
Assignment Rule ◽  
Fair Assignment ◽  
Option Value Of Waiting

Abstract In this paper, limited managerial capacity gives rise to a timing option: agents can implement projects now-or-later. Because each agent cares only about the project he implements, while the principal cares about the projects undertaken in aggregate, the timing option may be valued differently by the principal and the agents. Under a fair assignment rule (one that treats the agents symmetrically), these conflicting valuations result in agents sometimes not implementing the principal's desired projects. We identify conditions under which the optimal assignment rule necessarily exhibits favoritism. Favoritism is beneficial because it provides appropriate incentives to the unfavored agent by reducing his option value of waiting.

Historical Introduction

1977 ◽  
Vol 35 ◽  
pp. 2-5
Author(s):  
R. D. Heidenreich
Keyword(s):  
Electron Emission ◽  
Secondary Electron ◽  
Secondary Electron Emission ◽  
50Th Anniversary ◽  
Secondary Emission ◽  
Wave Nature ◽  
Nobel Prize In Physics ◽  
Primary Electrons ◽  
The U.S ◽  
Mutual Agreement

This program has been organized by the EMSA to commensurate the 50th anniversary of the experimental verification of the wave nature of the electron. Davisson and Germer in the U.S. and Thomson and Reid in Britian accomplished this at about the same time. Their findings were published in Nature in 1927 by mutual agreement since their independent efforts had led to the same conclusion at about the same time. In 1937 Davisson and Thomson shared the Nobel Prize in physics for demonstrating the wave nature of the electron deduced in 1924 by Louis de Broglie.The Davisson experiments (1921-1927) were concerned with the angular distribution of secondary electron emission from nickel surfaces produced by 150 volt primary electrons. The motivation was the effect of secondary emission on the characteristics of vacuum tubes but significant deviations from the results expected for a corpuscular electron led to a diffraction interpretation suggested by Elasser in 1925.

Variations in Surface Textures of Quartz Sand using Electron Microscopy

1970 ◽  
Vol 28 ◽  
pp. 494-495
Author(s):  
Eugene J. Amaral
Keyword(s):  
Electron Microscopy ◽  
Glass Industry ◽  
Glass Slide ◽  
Distilled Water ◽  
Early Paleozoic ◽  
Secondary Effects ◽  
Surface Textures ◽  
High Silica ◽  
Sand Deposit ◽  
The U.S

Examination of sand grain surfaces from early Paleozoic sandstones by electron microscopy reveals a variety of secondary effects caused by rock-forming processes after final deposition of the sand. Detailed studies were conducted on both coarse (≥0.71mm) and fine (=0.25mm) fractions of St. Peter Sandstone, a widespread sand deposit underlying much of the U.S. Central Interior and used in the glass industry because of its remarkably high silica purity.The very friable sandstone was disaggregated and sieved to obtain the two size fractions, and then cleaned by boiling in HCl to remove any iron impurities and rinsed in distilled water. The sand grains were then partially embedded by sprinkling them onto a glass slide coated with a thin tacky layer of latex. Direct platinum shadowed carbon replicas were made of the exposed sand grain surfaces, and were separated by dissolution of the silica in HF acid.

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