Real Option Investment under Two-Dimensional Information Asymmetry

Studied real option investment in a two-dimensional information asymmetry framework.Under the assumption that two asymmetric parameters' distribution function is two-point distribution,we found that the trigger values of different type agents have four kinds of equilibriums,which are separated equilib- rium,bunching equilibrium and two kinds of partially bunching equilibriums.We analyzed the conditions for each kind of equilibrium to exists,and the effect of correlation change on equilibrium status.