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| Author: | Mills, R.W. Weinstein, B. Favato, G. |
| Title: | Using scenario thinking to make real options relevant to managers: a case illustration |
| Journal: | Journal of General Management
2006 : VOL. 31:3, p. 49-74 |
| Index terms: | decision making |
| Language: | eng |
| Abstract: | The paper argues the advantages of Real Options thinking and exhibits the types of decision making calculations that are distinctive to Real Options. A strong dependency upon scenario thinking is established in the process of clarifying the application of Real Option analysis to real decision making. The substance and the use of the scenarios determine the value of Real Options to decision makers. This paper shows how the beneficial application of Real Options to decision making brings it down form the esoteric heights of mathematics, converts it into a technique readily accessible to managers and qualifies it for inclusion in the curriculum of management education. |
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