Books by Avinash K. Dixit

Do you know the Oxford University Press “very short paperback books” series?  This is the latest entry, by Avinash Dixit , self-recommending.

Do you know the literature on irreversible investment and option value ?  Under plausible parameter specifications, you need a benefit-cost ratio of 3 to 1 or more before it makes sense to proceed with the irreversible investment.  Otherwise it is better simply to wait.  That’s not 1.3 to 1, that’s 3 to 1.