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Technology search investments: evolutionary, option reasoning, and option pricing approaches

How do firms allocate limited search resources among substituting technologies with uncertain prospects? This paper contrasts three different approaches. The first follows evolutionary theorists' portrayals of decision-making processes under bounded rationality. The second approach - real option reasoning - fosters flexibility by investing in more than one technology and postponing the decision to specialize. Following the third approach - real option pricing - firms base their search investments on forward-looking calculations of technology option prices. We lay out the contrasting theoretical assumptions behind each of these three approaches and construct a simulation model to compare their implications..Printed Journal

Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit John Wiley & Sons.,
Edisi -
Subjek Strategic management
Mathematical models
Comparative analysis
Technology
Simulation
Real options analysis
studies
Capital intensive industries
ISBN/ISSN 1432095
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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