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"In this book Lenos Trigeorgis, who has helped shape the field of real options, brings together a wealth of previously scattered knowledge and research on the new flexibility in corporate resource allocation and in the evaluation of investment alternatives brought about by the shift from static cash-flow approaches to the more dynamic paradigm of real optionsan approach that incorporates decisions on whether to defer, expand, contract, abandon, switch use, or otherwise alter a capital investment. Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. Also discussed are the strategic value of new technology, project interdependence, and competitive interaction."
1 Introduction and Overview -- 2 Traditional Capital Budgeting -- 3 Option-Pricing Theory and Financial-Options Applications -- 4 A Conceptual Options Framework for Capital Budgeting -- 5 Quantifying Flexibility in Capital Budgeting: Discrete-Time Analysis -- 6 Quantifying Flexibility: Some Continuous-Time Analytic Models -- 7 Interactions among Multiple Real Options -- 8 Strategic Planning and Control -- 9 Competition and Strategy -- 10 Numerical Analysis -- 11 Applications -- 12 Conclusions and Implications..
