Abstract:By introducing investment cost,future operating profitability and its volatility,investment delay loss rate and the correlation coefficient of competing finns when the strategic investment opportunities of competing firms can be shared and delayed,this paper develops a real option analytical frame and analyzes the relative investment profitability interval,investment time and two-stage game probability based on Shackleton-Tsekre- kos-Wojakowski model.Moreover,the supposed variables' impacts on t...