Existing technologies, institutions, and behavioral norms together act to constrain the rate
and magnitude of carbon emissions reductions in the coming decades. The inertia of carbon …

This article develops an option-theoretic perspective for organizational strategic
management. Grounded in the basic intuition that people seek to “keep options open” in …

In the midst of rapid technological change, political polarization and a fragile economic
recovery, it is critical that we define, assess and implement new pathways to growth and …

Colin Matthews was vexed. To have valuers crawling all over his airport was the last thing
he wanted. But after three years, it could no longer be stopped. It was the summer of 2012 …

How should firms decide whether and when to invest in new capital equipment, additions to
their workforce, or the development of new products? Why have traditional economic models …

Most investment expenditures have two important characteristics: First, they are largely
irreversible; the firm cannot disinvest, so the expenditures are sunk costs. Second, they can …

As renewed attention has been given by policy makers to energy conservation issues, it has
frequently been asserted that an energy-efficiency gap exists between actual and optimal …

Sanctions are a tool used by political actors to induce foreign countries, firms or individuals
to alter their behavior. As nonmilitary coercive measure, they have the potential to disrupt the …

The rapid collapse of socialism has raised new economic policy questions and revived old
theoretical issues. In this book, Joseph Stiglitz explains how the neoclassical, or Walrasian …

Research summary: T his article provides a review of real options theory (ROT) in strategic
management research. We review the fundamentals of ROT and provide a taxonomy of this …