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    Dynamic project selection

    Nikandrova, Arina and Pancs, R. (2018) Dynamic project selection. Theoretical Economics 13 (1), pp. 115-143. ISSN 1933-6837.

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    We study a normative model of an internal capital market that a company uses to choose between its two divisions’ projects. Each project’s value is initially unknown to all, but can be dynamically learned by the corresponding division. Learning can be suspended or resumed at any time and is costly. We characterize an internal capital market that maximizes the company’s expected cash flow.


    Item Type: Article
    Keyword(s) / Subject(s): reversible project selection
    School: School of Business, Economics & Informatics > Economics, Mathematics and Statistics
    Depositing User: Arina Nikandrova
    Date Deposited: 08 May 2017 09:59
    Last Modified: 24 Jun 2021 16:37


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