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Valuing Modularity as a Real Option [PDF]
Management Science, 2009 We provide a general valuation approach for capital budgeting decisions involving the modularization in the design of a system. Within the framework developed by Baldwin and Clark (Baldwin, C. Y., K. B. Clark. 2000. Design Rules: The Power of Modularity.
Andrea Gamba, Nicola Fusari
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Proceedings of the first international conference on Information and computation economies, 1998
One of the predominant modes of accessing information in the World Wide Web consists in surfing from one document to another along hypermedia links. We have studied the dynamics of Web surfing within an economics context by considering that there is value in each page that an individual visits, and that clicking on the next page assumes that the ...
Rajan M. Lukose, Bernardo A. Huberman
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One of the predominant modes of accessing information in the World Wide Web consists in surfing from one document to another along hypermedia links. We have studied the dynamics of Web surfing within an economics context by considering that there is value in each page that an individual visits, and that clicking on the next page assumes that the ...
Rajan M. Lukose, Bernardo A. Huberman
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ARE REAL OPTIONS "REAL"? ISOLATING UNCERTAINTY FROM RISK IN REAL OPTIONS ANALYSIS [PDF]
Annals of Financial Economics, 2014 This paper derives an adjusted Black–Scholes pricing formula. In separating risk and uncertainty using the robust control technique, we find that both uncertainty and risk raise management's subjective evaluation of real options. We suggest a simple method to filter the risk of the project and to acquire a more reliable value of real options without ...
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SSRN Electronic Journal, 2017
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Afforestation as a real option: Choosing among options
2003The theory of real options has received a considerable interest in recent years. At the core of the literature has been a so-called single-option model, i.e. a model where the decision-maker must decide the timing of a real investment given stochastic returns of the single asset in question and where the investment is a sunk cost.
Thorsen, Bo Jellesmark +1 more
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Real Options and Optionalities in Shipping
2009In Chapters 7 and 8, we discussed options on shipping freight rates, hedging with freight options, as well as their pricing and trading strategies. In this chapter we explore the natural extension of these instruments for valuing flexibility and optionality in investment and operational projects using ‘real option analysis’ (ROA).
Amir H. Alizadeh, Nikos K. Nomikos
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Real Options and Real Tradeoffs
Academy of Management Review, 2004The commentaries on our article fail to come to grips with the distinct challenges raised by a process of experimentation that leads to the discovery of new possible initiatives. These challenges differ from those posed by an investment that provides privileged access to a prespecified set of possible follow-on investments. By treating these challenges
Ron Adner, Daniel A. Levinthal
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