IFM Research

Research

Our research focuses on the economics of irreversible decision making under uncertainty. We use methods like dynamic programming, game theory, and Monte Carlo simulation and analyze the consequences of irreversibility for corporates’ investment and financing policies in areas such as merger & acquisition (M&A), innovation, and energy, among others. (Publications) (Projects)

	Journal of corporate finance On the determinants of the dynamic choice between mergers and tender offers Authors: Lukas, Elmar; Pereira, Paulo J.; Rodrigues, Artur https://doi.org/10.1016/j.jcorpfin.2023.102489
	Managerial and decision economics Innovation speed under uncertainty and competition Authors: Briest, Gordon; Lukas, Elmar; Mölls, Sascha H.; Willershausen, Timo https://doi.org/10.1002/mde.3199
	European journal of operational research The interaction of debt financing, cash grants and the optimal investment policy under uncertainty Authors: Lukas, Elmar; Thiergart, Sascha https://doi.org/10.1016/j.ejor.2018.12.036
	Journal of economic dynamics & control Designing optimal M&A strategies under uncertainty Authors: Lukas, Elmar; Pereira, Paulo J.; Rodrigues, Artur https://doi.org/10.1016/j.jedc.2019.04.006
	European journal of operational research When and how much to invest? - investment and capacity choice under product life cycle uncertainty Authors: Lukas, Elmar; Spengler, Thomas Stefan; Kupfer, Stefan; Kieckhäfer, Karsten https://doi.org/10.1016/j.ejor.2017.01.027
	Finance research letters On the investment-uncertainty relationship - a game theoretic real option approach Authors: Lukas, Elmar; Welling, Andreas https://doi.org/10.1016/j.frl.2013.07.006