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p(R)
0
R
Figure 1: Free boundary under price uncertainty
ô(R)
0
R
Figure 2: Free boundary under policy uncertainty
ô
Delocate
_
ô
~
ô
ôo
*
ô j (td)
Stay
0
*
td
*
ô (td)
*
tdj
Figure 3: Threshold policy parameter
td
p
Delocate
*
p (td;ô,s)
increase ô
increase s
Stay
0
td
Figure 4: Relocation time policy