Marco Della Seta
| Date of PhD defense: | 14 October 2011 |
| Title of thesis: | Essyas in Corporate Financing and Investment under Uncertainty |
| ISBN: | 978 90 5668 298 9 |
| Promotor: | Prof.dr. Peter Kort |
| Co-promotor: | Dr. Sebastian Gryglewicz |
Abstract:
In financial economics, the opportunity to wait associated with the right but not the obligation to undertake an action is at the basis of the notion of option. This thesis is composed of three essays in which the option approach is used to model different economic problems. The first essay, “Cash and competition”, studies the effects of product market competition of firms. cash holdings. The second essay, “Willingness to wait under risk and ambiguity: Theory and experiment”, examines how risk and ambiguity influence the optimal timing of option exercise. The third essay, “Learning investment”, analyzes the optimal investment policy in technologies that involve a process of learning by doing.
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