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Social and Behavioral Sciences Commons

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Public Affairs, Public Policy and Public Administration

Series

2012

Institution
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Publication
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Articles 1141 - 1142 of 1142

Full-Text Articles in Social and Behavioral Sciences

Montana Nonresident Traveler Expenditure Trends: 2000-2010, Kara Grau Jan 2012

Montana Nonresident Traveler Expenditure Trends: 2000-2010, Kara Grau

Institute for Tourism and Recreation Research Publications

This report shows the nonresident traveler expenditure trends for visitors of Montana from 2000-2010. It also displays the total actual expenditures and the total inflation-adjusted expenditures.


Quasi-Option Value Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa Jan 2012

Quasi-Option Value Under Strategic Interactions, Tomoki Fujii, Ryuichiro Ishikawa

Research Collection School Of Economics

We consider a simple two-period model of irreversible investment under strategic interactions between two players. In this setup, we show that the quasi-option value may cause some conceptual difficulties. In case of asymmetric information, decentralized investment decisions fail to induce first-best allocations. Therefore a regulator may not be able to exercise the option to delay the decision to develop. We also show that information-induced inefficiency may arise in a game situation and that under certain assumptions inefficiency can be eliminated by sending asymmetric information to the players, even when the regulator faces informational constraints. Our model is potentially applicable to …