Les dangers d'une approche financière des options réelles

Thierry Burger-Helmchen

Revue française de gestion, 2007, vol. 170, issue 1, 59-74

Abstract: This work proposes an explanation of the origin of the real options. After a reminder of the notion of options chain, including the advantages and the drawbacks of the most recent developments, we describe the origin of the real options in the processes of decision through the notions of entrepreneurship and potential options. This theoretical approach is illustrated by an application on the game software industry. The article concludes on the reasons why it would be advantageous for the real options theory to rely less on a purely financial approach and take into account considerations belonging to theories of the firm.

Date: 2007
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