Project Flexibility, Agency, and Competition: New Developments in the Theory and Application of Real Options

Recent attention has been given to the valuation of "real options" to look at capital budgeting decisions and project management. Real options are a measure of the value of managerial flexibility and strategic value in capital investment. Because this topic is not yet covered adequately, this book fills a major gap in the market. It deals with issues of R&D and technology options; investments involving learning; infrastructure; competition; strategy; and growth options.