Request PDF on ResearchGate | Strategic Investment: Real Options and Games | Corporate finance and corporate strategy have long been. Strategic Investment. Real Options and Games. Han T. J. Smit. Lenos Trigeorgis. Princeton University Press. Princeton and Oxford. Thinking in terms of options-games can help managers address questions such as: When is it best to invest Representing a major step beyond standard real options or strategy analysis, and extending the power of real Chapter 1 [PDF].
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Strategic Investment: Real Options and Games. Publication. Publication. Corporate finance Table of Contents_pdf Final Version, 58kb. A Real Options and Game-Theoretic. Approach to Corporate Investment. Strategy Under Competition. Han T.J. Smit and LA. Ankum. Han Smit is an Assistant. The paper illustrates the use of real options and game theory principles to It is well accepted by now that the value of many strategic investments does not.
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Application of Option Games in Investment Analysis
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First, it synthesizes the real options approach to capital investment and game-theoretic analysis of strategic interactions. Second, it spans sophisticated theory and business practice.
Academics as well as business managers can learn from it and enjoy its wonderfully clear exposition. This book unifies two major strands of economic theory—real options and games—into a single, coherent framework, and then shows how these ideas can be applied to the formulation of corporate strategy.
With deep knowledge, enlivened by zest and humor, the authors take the reader to the forefront of current thinking.
Baldwin, William L. White Professor of Business Administration, Harvard Business School, coauthor of Design Rules: The Power of Modularity "In the study of investment decisions, it has been common to focus on either the financial or the strategic aspects of an investment.
This admirable book combines the two perspectives, using the tools of real options and game theory. With its wide-ranging and eclectic assortment of theoretical models and case studies, the book will prove useful to students, practitioners, and researchers.
McDonald, Erwin P.
Nemmers Distinguished Professor of Finance, Kellogg School of Management, Northwestern University, author of Derivatives Markets "This book promises to have a very significant impact on the field of strategic management. For years, the field has struggled to find a way of reconciling two contradictory views: flexibility is good vs.
This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap.
Strategic Investment: Real Options and Games
In clear, straightforward exposition and through numerous examples and applications from various industries, Han Smit and Lenos Trigeorgis set forth an extended valuation framework for competitive strategies.
The book follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy.
Thinking in terms of options-games can help managers address questions such as: When is it best to invest early to preempt competitive entry, and when to wait? How does one value growth options or infrastructure investments? Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
Han T. His book Real Options is a classic in the field. Many of our ebooks are available through library electronic resources including these platforms: Teaching Professors: To request a print examination copy for course consideration, please visit: Ingram Academic.
Strategic Investment: Real Options and Games
Inspection copies are only available to verified university faculty. Some restrictions apply. To request an electronic inspection copy for course use consideration, please visit one of the following services to submit your digital examination request online:. USD online orders only, e-mail: For GBP online orders, e-mail: For more detailed ordering information, see:Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
As in the previous case, Firm 2 invests at its follower threshold Y2F.
This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap. This implies that the preemption threat of Firm 2 declines in the investment cost asymmetry, so that Firm 1 will invest later.
Therefore, Firm 1 has to take into account the fact that Firm 2 will aim at preempting Firm 1 as soon as a certain threshold is reached.
The last type of equilibrium is the simultaneous equilibrium. Google Scholar Paddock, J. Google Scholar Brennan, M.