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In this paper we consider a potential investor who contemplates entering an uncertain new market under two conditions: i) a prerequisite for the project to take place is the purchase of a discrete input from an upstream ...rm with market power and ii) the completion of the investment is conditional on the participation of an investment partner who is willing to bear some of the investment cost receiving compensation in return. Using the real option approach, we ...nd that the involvement of anydoi:10.2139/ssrn.3071795 fatcat:ulgh2ydtmzcq7psfulajqiufku