This chapter is organized as follows. The economic problem on which this book focuses is
motivated in Section 1. The two tools used to study this economic problem, which are real …

This paper studies a dynamic duopoly in which firms compete in the adoption of new
technologies. The innovation process is exogenous to the firms. It is assumed that there are …

The aim of this paper is to determine the optimal timing of technology investment of a single
firm in a duopoly framework. As time passes different technologies are invented which after …

Due to embodied technological progress new generations of capital goods are more
productive. Therefore, in order to study the effects of technological progress, a model must …

The selection of appropriate technology projects has been one of the most significant
business challenges of the last decade. Information technology projects, in particular …

In standard capital accumulation models all capital goods are equally productive and
produce goods of the same quality. However, due to technological progress, in reality it …

This paper brings both intertemporal and age-dependent features to a theory of population
policy at the macro-level. A Lotka-type renewal model of population dynamics is combined …

This paper examines the application of real option theory to sequential investment decision-
making. In an effort to contribute to the development of criteria that discriminate between …

The Thin Film Transistor-Liquid Crystal Display (TFT-LCD) industry has demonstrated that
the investment of huge amounts of capital in new plants is a key factor for success …

We consider an optimal stop** time problem, related with many models found in real
options problems. We present analytical solutions for a broad class of gain functions …