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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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California Management Review
Summary Decision-making on sustainability investment faces two challenges. First, appraisal methods are based on a narrow view of shareholder value and require extensions to support decisions that involve valuable outcomes for society. Second, the consequences of climate change are uncertain.
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Summary Decision-making on sustainability investment faces two challenges. First, appraisal methods are based on a narrow view of shareholder value and require extensions to support decisions that involve valuable outcomes for society. Second, the consequences of climate change are uncertain.
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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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Sequential real rainbow options
The European Journal of Finance, 2012We develop two models to value European sequential rainbow options. The first model is a sequential option on the better of two stochastic assets, where these assets follow correlated geometric Brownian motion processes. The second model is a sequential option on the mean-reverting spread between two assets, which is applicable if the assets are co ...
Dockendorf, Jorg, Paxson, Dean
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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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Real options and real strategies
Strategic Change, 2007Abstract The formulation of strategic plans within the real options framework promotes flexibility and provides an answer to critics of conventional strategic planning who argue that the deterministic and inflexible nature of that process might leave managers ill‐prepared to cope with uncertainty.
Stefanos Zarkos +2 more
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