Journal Article10.5465/AMR.1997.9711022113
A Real Options Logic for Initiating Technology Positioning Investments
TL;DR: In this paper, the authors extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.
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Abstract: In this article I extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise. I also take a strategic perspective on uncertainty itself, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.
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References
Firm Resources and Sustained Competitive Advantage
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