|
Showing 1 - 1 of
1 matches in All Departments
A new paradigm for balancing flexibility and commitment in
management strategy through the amalgamation of real options and
game theory. Corporate managers who face both strategic uncertainty
and market uncertainty confront a classic trade-off between
commitment and flexibility. They can stake a claim by making a
large capital investment today, influencing their rivals' behavior,
or they can take a "wait and see" approach to avoid adverse market
consequences tomorrow. In Competitive Strategy, Benoit
Chevalier-Roignant and Lenos Trigeorgis describe an emerging
paradigm that can quantify and balance commitment and flexibility,
"option games," by which the decision-making approaches of real
options and game theory can be combined. The authors first discuss
prerequisite concepts and tools from basic game theory, industrial
organization, and real options analysis, and then present the new
approach in discrete time and later in continuous time. Their
presentation of continuous-time option games is the first
systematic coverage of the topic and fills a significant gap in the
existing literature. Competitive Strategy provides a rigorous yet
pragmatic and intuitive approach to strategy formulation. It
synthesizes research in the areas of strategy, economics, and
finance in a way that is accessible to readers not necessarily
expert in the various fields involved.
|
You may like...
Loot
Nadine Gordimer
Paperback
(2)
R398
R330
Discovery Miles 3 300
Loot
Nadine Gordimer
Paperback
(2)
R398
R330
Discovery Miles 3 300
|
Email address subscribed successfully.
A activation email has been sent to you.
Please click the link in that email to activate your subscription.