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Competitive Strategy – Options and Games - MIT Press Scholarship Online
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Competitive Strategy: Options and Games

Benoît Chevalier-Roignant and Lenos Trigeorgis


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. This book describes 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 book first discusses prerequisite concepts and tools from ... More

Keywords: corporate managers, strategic uncertainty, market uncertainty, commitment, flexibility, capital investment, wait and see, option games, game theory, industrial organization

Bibliographic Information

Print publication date: 2011 Print ISBN-13: 9780262015998
Published to MIT Press Scholarship Online: August 2013 DOI:10.7551/mitpress/9780262015998.001.0001


Affiliations are at time of print publication.

Benoît Chevalier-Roignant, author

Lenos Trigeorgis, author