ORCID Profile
0000-0001-7502-7433
Current Organisation
Colorado State University
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Publisher: Informa UK Limited
Date: 09-2009
Publisher: Elsevier BV
Date: 07-2010
Publisher: Elsevier BV
Date: 10-2019
Publisher: Elsevier BV
Date: 02-2021
Publisher: World Scientific Pub Co Pte Lt
Date: 06-2009
DOI: 10.1142/S0219024909005361
Abstract: We investigate the optimal investment timing strategy in a real option framework. Depending on the state of the economy, whose changes are modeled by a Markov chain, the investment cost can take one of two values. The optimal investment timing decision is determined by finding the free boundary of a perpetual American option. Three investment timing policies, based on different assumptions of investors' information sets, are determined and compared. In the full information case, a significantly earlier optimal exercising time is indicated. We show that an optimal-timing policy suggested by the conventional real option model might ruin the investment opportunities.
Publisher: Informa UK Limited
Date: 07-2012
Publisher: Springer Science and Business Media LLC
Date: 18-07-2009
Publisher: Informa UK Limited
Date: 02-2013
Location: United Kingdom of Great Britain and Northern Ireland
No related grants have been discovered for Hong Miao.