Valuing Managerial Flexibility: A Child's Guide to Real Options

Glenn Boyle and Tim Irwin

No 18972, Working Paper Series from Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation

Abstract: Our consulting experiences indicate that many New Zealand businesses and their managers are increasingly aware of the shortcomings of conventional methods for evaluating capital investment projects particularly in situations where there is considerable flexibility subsequent to the project's commencement. With the busy executive in mind we offer a brief and intuitive introduction to recently developed methods of project evaluation that explicitly incorporate managerial flexibility.

Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:vuw:vuwcsr:18972

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