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| Author: | Erdogmus, H. |
| Title: | Valuation of learning options in software development under private and market risk |
| Journal: | Engineering Economist
2002 : VOL. 47:3, p. 308-353 |
| Index terms: | Computer technology Software Market research Risk management |
| Language: | eng |
| Abstract: | The paper demonstrates the application of real options analysis to a development scenario that consists of two consecutive stages: a mandatory prototyping stage and an optional full-development stage. The full-development stage is undertaken only if the prototype is successful and the market outlook is sufficiently positive at the end of the prototyping stage, thus giving the full-development stage the flavor of an option. The project's staged design increases its value. |
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