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The new option view of investment

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Author(s)
Dixit, Avinash K.
•
Pindyck, Robert S.
Date Issued
1995
Publisher
MIT Center for Energy and Environmental Policy Research
Series/Report no.
MIT-CEEPR (Series) ; 95-002WP.
Abstract
This paper provides a simple introduction to the new option view of investment. We explain the shortcomings of the orthodox theory, and then outline the basic ideas behind the option framework. Several industry examples are briefly discussed.
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