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| Author: | Park, C. Herath, H. |
| Title: | Exploiting uncertainty -- investment opportunities as real options: a new way of thinking in engineering economics |
| Journal: | Engineering Economist
2000 : VOL. 45:1, p. 1-36 |
| Index terms: | UNCERTAINTY INVESTMENT ENGINEERING INDUSTRY |
| Language: | eng |
| Abstract: | A new trend in corporate planning is to exploit uncertainty by taking investment opportunities as real options. This options approach is to complement the conventional net present value (NPV) criterion in evaluating risky investments. In this paper, the authors take a broad look at the real options approach to various engineering economic decision problems, laying out how it provides an immediate and important perspective on value creation in an uncertain world. |
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