Characterizing Coordination in Investment Timing | Billette de Villemeur, Etienne
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Communication de conférence

Characterizing Coordination in Investment Timing

in Real Options Group Annual Meeting 15th Annual International Conference, Turku, June 15-18, 2011

Billette de Villemeur, Etienne ; Ruble, Richard ; Versaevel, Bruno (19..-....) ; Real Options Group (ROG) Annual Meeting. 15th, Turku, Finland, June 15-18, 2011

2011 - 24 P.

We provide characterizations of tacit collusion (simultaneous) equilibrium in models of investment timing allowing for spillovers in both áow proÖts and investment costs. We validate these characterizations by applying them to common models of capacity accumulation and R&D investment, as well as to investment in an endogenously priced input. For instance, in linear demand Cournot competition, tacit collusion is likelier to arise when installed capacities and lumpy investments are both ... large.

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