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https://ah.lib.nccu.edu.tw/handle/140.119/62303
題名: | Investment with network externality under uncertainty | 作者: | 許志堅 Lu, Chia-Chi;Hung, Weifeng;Sheu, Jyh-Jian;Shih, Pai-Ta |
貢獻者: | 廣電系 | 關鍵詞: | Consumer`s Waiting-to-Buy Effect;G12;Network Externality;O31;O34;Real Option Investment | 日期: | 2011 | 上傳時間: | 9-十二月-2013 | 摘要: | The purpose of this paper is to develop a real option model with a stochastic network size to simultaneously consider firm`s investment and household`s consumption behaviors in an equilibrium framework. First, the consumer`s waiting-to-buy effect is crucial in determining trigger network size of firm`s investment. Second, increasing network externality has an ambiguous effect on trigger network size of firm`s investment. Third, using NPV rule not only underestimates trigger network size but, also possibly results in the misleading relationship between network externality and trigger network size. | 關聯: | Review of Quantitative Finance and Accounting, 36(4), 555-564 | 資料類型: | article |
Appears in Collections: | 期刊論文 |
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555564.pdf | 275.67 kB | Adobe PDF2 | View/Open |
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