Umeň Economic Studies, Department of Economics, Umeň University
Options, Timing, and Regional Entry of Firms
Abstract: This paper studies how the possibility to postpone the
unrecoverable entry and location cost affects regional entry when
post-entry earnings are uncertain. We find that the opportunity cost to
enter today is higher when entering a region with high uncertainty relative
to a region with low uncertainty.
Keywords: Timing; Regional uncertainty; Brownian motion; (follow links to similar papers)
JEL-Codes: C61; D21; D84; R12; (follow links to similar papers)
13 pages, April 21, 1999
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