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Competitive StrategyOptions and Games$
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Competitive Strategy: Options and Games

Benoît Chevalier-Roignant and Lenos Trigeorgis

Print publication date: 2011

Print ISBN-13: 9780262015998

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015998.001.0001

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An Integrative Approach to Strategy: Option Games

An Integrative Approach to Strategy: Option Games

Chapter:
(p.195) 6 An Integrative Approach to Strategy: Option Games
Source:
Competitive Strategy
Author(s):

Benoît Chevalier-Roignant

Lenos Trigeorgis

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015998.003.0006

This chapter first discusses how option games can provide useful insights to management faced with conflicting strategic choices. It highlights two issues: optimal investment timing and the trade-off between flexibility and commitment. It then provides a simple illustration to help explain the logic behind option games. Next, it discusses applications to R&D and the mining/chemicals industry.

Keywords:   option games analysis, optimal investment timing, commitment, flexibility, mining industry, chemicals industry

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