Papers published in this report series are preliminary versions of journal articles and not for quotations. Abstract This paper extends the real options literature by discussing an investment problem, where a firm has to determine optimal investment timing and optimal capacity choice at the same time under conditions of irreversible investment expenditures and uncertainty in future demand. Afte...

Iran contributes to the stock enhancement of several economically valuable fish species, including the Caspian salmon, S. trutta caspius, by producing and releasing millions of fingerlings into the sea. This work was conducted to determine the production costs of the Caspian salmon fingerlings in the years 2002 and 2003. For this purpose, a questionnaire was prepared and filled in by an expert ...

The Venture Capital (VC) Game is a web-based, discrete-event simulator of a market for a single product. Students are divided into teams. In some assignments all the teams are entrepreneurs. In other assignments, some teams will be entrepreneurs and the rest will be venture capitalists. The objective of the game is to finish with the highest equity valuation. The entrepreneur teams compete agai...

the paper in the study of poverty in pakistan is aimed at the analysis of macroeconomic determinants of poverty. it reviews the empirical literature on poverty in pakistan over the last thirty years. the literature varies from published research papers to the different reports produced by the national and the international institutions. it also estimates the impact of different causes of povert...

abstractaccording to public choice theory, the features of the tax structure effect on voters' perceptions from the tax burden, so they pay more cost for public goods, lower than the estimate. in this study has been investigated the relationship between tax and public expenditures in the iranian economy during 1360-1390 based on public choice theory to examine the level of government spend...

This paper tries to analyze the impacts of intermediate goods trade on production, consumption, investment, net exports, employment, labor wage and capital rent of Iran in its bilateral trade relations with China. This analysis has been done by modeling, solving and calibrating an international real business cycles (IRBC) model in period 1980-2009. The results show that when elasticity of subst...

Does cultural similarity affect destination choices of foreign direct investment (FDI)? To answer this question, I provide a novel identification strategy which explores discontinuous changes in investment from Hong Kong, Macau and Taiwan (HMT) to Mainland China at borders of Chinese dialect zones. Mainland China can be geographically separated into various dialect zones. People who speak the s...

This paper empirically examines whether additional future fixed capital and R&D investment expenditures induce firms to accumulate cash reserves while considering the role of market imperfections. Implementing a dynamic framework on a panel of US, UK and German companies, we find that firms make larger additions to cash holdings when they plan additional future R&D rather than fixed capital inv...

In this paper, employing VAR and factor analytic models with quarterly U.K. sectoral business investment data, we show that both common and sector–specific shocks play important roles in explaining business investment fluctuations. JEL: C32, E22, E32.