Option games model of firm′s investment strategy in oligopoly

[1] Dixit A, Pindyck R. Investment under uncertainty[M]. Princeton:Princeton University Press, 1994 [2] Nielsen M J. Competition and irreversible investments[J]. International Journal of Industrial Organization, 2002(20):731-743 [3] Grenadier S R. The strategic exercise of options:development cascades and overbuilding in real estate market[J]. The Journal of Finance, 1996,51(5):1653-1679 [4] Huisman K J M, Kort P M. Effect of strategic interactions on the option value of waiting. CentER Discussion Paper 9992, The Netherlands:Tilburg University,1999 [5] Weeds H. Strategic delay in a real options model of r&d competition[J]. Review of Economic Studies,2002, 69(3):729-747 [6] Pawlina G, Kort P M. Real options in an asymmetric duopoly:who benefits from your competitive disadvantage [J]. Journal of Economics & Management Strategy, 2006, 15(1):1-35 [7] Grenadier S R. Option exercise games:an application to the equilibrium investment strategies of firms[J]. Review of Financial Studies,2002,15(3):691-721 [8] Murto P, Nasakkala E, Keppo J. Timing of investments in oligopoly under uncertainty:a framework for numerical analysis[J]. European Journal of Operational Research, 2004,157(2):486-500 [9] Bouis R, Huisman J M K, Kort P M. Strategic real options:three firms. Tilburg :Tilburg University, 2005. http://realoptions.org/papers2005/Huisman threefirms.pdf [10] Kijima M, Shibata T. Real options in an oligopoly market. Kyoto:Kyoto University, 2004. http://www.kier.kyoto-u.ac.jp/coe21/dp/31-40/21COE-DP033.pdf [11] Leahy J. Investment in competitive equilibrium:the optimality of myopic behavior[J].Quarterly Journal of Economics,1993,108 (4):1105-1133 [12] Fudenberg D, Tirole J. Preemption and rent equalization in the adoption of new technology[J]. Review of Economic Studies, 1985,52(3):383-401