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Showing 1 to 1 of 1 for “"Irreversible Investmet"”.
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Essays On Oil Price Volatility And Irreversible Investment
… I investigate the impact of volatility on firms' irreversible investment decisions using real options theory. Cost incurred in oil drilling is considered sunk cost, thus irreversible. I collect detailed data on onshore, development oil well drilling on the North Slope of Alaska from 2003 to 2014. …