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Investment under Uncertainty
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How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditio
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Innovation is how businesses stay ahead of the competition and adapt to market conditions that change in unpredictable and uncertain ways. In the first decade o
Managing Uncertainty
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At its core, economics is about making decisions. In the history of economic thought, great intellectual prowess has been exerted toward devising exquisite theo