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Author : Steven R. Grenadier
Publisher :
ISBN 13 :
Total Pages : 442 pages
Book Rating : 4.:/5 (321 download)
Download or read book Game Choices written by Steven R. Grenadier and published by . This book was released on 2000 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Han T. J. Smit
Publisher : Princeton University Press
ISBN 13 : 1400829399
Total Pages : 504 pages
Book Rating : 4.4/5 (8 download)
Download or read book Strategic Investment written by Han T. J. Smit and published by Princeton University Press. This book was released on 2012-01-12 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate finance and corporate strategy have long been seen as different sides of the same coin. Though both focus on the same broad problem, investment decision-making, the gap between the two sides--and between theory and practice--remains embarrassingly large. This book synthesizes cutting-edge developments in corporate finance and related fields--in particular, real options and game theory--to help bridge this gap. In clear, straightforward exposition and through numerous examples and applications from various industries, Han Smit and Lenos Trigeorgis set forth an extended valuation framework for competitive strategies. The book follows a problem-solving approach that synthesizes ideas from game theory, real options, and strategy. Thinking in terms of options-games can help managers address questions such as: When is it best to invest early to preempt competitive entry, and when to wait? Should a firm compete in R&D or adopt an accommodating stance? How does one value growth options or infrastructure investments? The authors provide a wide range of valuation examples, such as acquisition strategies, R&D investment in high-tech sectors, joint research ventures, product introductions in consumer electronics, infrastructure, and oil exploration investment. Representing a major step beyond standard real options or strategy analysis, and extending the power of real options and strategic thinking in a rigorous fashion, Strategic Investment will be an indispensable guide and resource for corporate managers, MBA students, and academics alike.
Author : Lenos Trigeorgis
Publisher : MIT Press
ISBN 13 : 9780262201025
Total Pages : 452 pages
Book Rating : 4.2/5 (1 download)
Download or read book Real Options written by Lenos Trigeorgis and published by MIT Press. This book was released on 1996-03-14 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. In the 1970s and the 1980s, developments in the valuation of capital-investment opportunities based on options pricing revolutionized capital budgeting. Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace. In this book Lenos Trigeorgis, who has helped shape the field of real options, brings together a wealth of previously scattered knowledge and research on the new flexibility in corporate resource allocation and in the evaluation of investment alternatives brought about by the shift from static cash-flow approaches to the more dynamic paradigm of real options—an approach that incorporates decisions on whether to defer, expand, contract, abandon, switch use, or otherwise alter a capital investment. Comprehensive in scope, Real Options reviews current techniques of capital budgeting and details an approach (based on the pricing of options) that provides a means of quantifying the elusive elements of managerial flexibility in the face of unexpected changes in the market. Also discussed are the strategic value of new technology, project interdependence, and competitive interaction. The ability to value real options has so dramatically altered the way in which corporate resources are allocated that future textbooks on capital budgeting will bear little resemblance to those of even the recent past. Real Options is a pioneer in this area, coupling a coherent picture of how option theory is used with practical insights in into real-world applications.
Author : Benoit Chevalier-Roignant
Publisher : MIT Press
ISBN 13 : 0262297833
Total Pages : 517 pages
Book Rating : 4.2/5 (622 download)
Download or read book Competitive Strategy written by Benoit Chevalier-Roignant and published by MIT Press. This book was released on 2011-12-22 with total page 517 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new paradigm for balancing flexibility and commitment in management strategy through the amalgamation of real options and game theory. Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing their rivals' behavior, or they can take a “wait and see” approach to avoid adverse market consequences tomorrow. In Competitive Strategy, Benoît Chevalier-Roignant and Lenos Trigeorgis describe an emerging paradigm that can quantify and balance commitment and flexibility, “option games,” by which the decision-making approaches of real options and game theory can be combined. The authors first discuss prerequisite concepts and tools from basic game theory, industrial organization, and real options analysis, and then present the new approach in discrete time and later in continuous time. Their presentation of continuous-time option games is the first systematic coverage of the topic and fills a significant gap in the existing literature. Competitive Strategy provides a rigorous yet pragmatic and intuitive approach to strategy formulation. It synthesizes research in the areas of strategy, economics, and finance in a way that is accessible to readers not necessarily expert in the various fields involved.
Author : Marion A. Brach
Publisher : John Wiley & Sons
ISBN 13 : 0471445568
Total Pages : 384 pages
Book Rating : 4.4/5 (714 download)
Download or read book Real Options in Practice written by Marion A. Brach and published by John Wiley & Sons. This book was released on 2003-04-07 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Explores real option theory applied in practice Real options are quickly becoming the valuation and decision-making method of choice for many companies, including oil and gas companies, utilities and natural resource companies, pharmaceutical and biotech companies, Internet companies, and many others. Real Options in Practice allows readers to view the world of real options from the vantage point of a corporate practitioner applying real option valuation techniques on a regular basis. Expert Marion Brach describes the challenges of implementing a real option framework in practice within a corporate setting. Touching on the real options most firms care about, Real Options in Practice identifies the classic types of real options-deferral, abandonment, switching, expansion, and compound-and explores the main concepts critical to understanding real option theory. Through Brach's own three-step real option valuation method readers will learn how the theory of real options is now being applied to drive better, more profitable corporate decision-making. Marion A. Brach, MD, MBA (Hagen, Germany), has undertaken financial valuation of business opportunities and acquisitions using scenario and real option valuation in the biotech industry. A recognized expert on real option theory and practice, Brach received her MBA from the Manchester Business School and frequently speaks at real option seminars.
Author : Jeffrey J. Reuer
Publisher : Emerald Group Publishing
ISBN 13 : 1849504946
Total Pages : 520 pages
Book Rating : 4.8/5 (495 download)
Download or read book Real Options Theory written by Jeffrey J. Reuer and published by Emerald Group Publishing. This book was released on 2007-07-05 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the ways in which real options theory can contribute to strategic management. This volume offers conceptual pieces that trace out pathways for the theory to move forward and presents research on the implications of real options for strategic investment, organization, and firm performance.
Author : Ronald B. Shelton
Publisher : John Wiley & Sons
ISBN 13 : 9780471168133
Total Pages : 234 pages
Book Rating : 4.1/5 (681 download)
Download or read book Gaming the Market written by Ronald B. Shelton and published by John Wiley & Sons. This book was released on 1997-04-25 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Die Spieltheorie betrachtet Entscheidungen als "Schachzüge" in einem Spiel, dessen Ausgang von den Entscheidungen aller Spieler bestimmt wird. Diese Theorie wird hier erstmals auf Investmentgeschäfte am Finanzmarkt angewendet. Nach der Definition der "Spielregeln" und der "Spieler" wird, basierend auf Formeln der Wahrscheinlichkeitsrechnung, ein Spielmodell entwickelt, das die Rentabilität von beliebigen Finanzaktionen wie Aktienkauf und -verkauf vorhersagt.
Author : Ilhan K. Geckil
Publisher : CRC Press
ISBN 13 : 158488844X
Total Pages : 222 pages
Book Rating : 4.5/5 (848 download)
Download or read book Applied Game Theory and Strategic Behavior written by Ilhan K. Geckil and published by CRC Press. This book was released on 2016-04-19 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: Useful Tools to Help Solve Decision Making ProblemsApplied Game Theory and Strategic Behavior demonstrates the use of various game theory techniques to address practical business, economic, legal, and public policy issues. It also illustrates the benefits of employing strategic thinking that incorporates the uncertainty surrounding the behavior of
Author : Philip D. Straffin
Publisher : American Mathematical Society
ISBN 13 : 1470471965
Total Pages : 256 pages
Book Rating : 4.4/5 (74 download)
Download or read book Game Theory and Strategy written by Philip D. Straffin and published by American Mathematical Society. This book was released on 2023-01-06 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is an introduction to mathematical game theory, which might better be called the mathematical theory of conflict and cooperation. It is applicable whenever two individuals—or companies, or political parties, or nations—confront situations where the outcome for each depends on the behavior of all. What are the best strategies in such situations? If there are chances of cooperation, with whom should you cooperate, and how should you share the proceeds of cooperation? Since its creation by John von Neumann and Oskar Morgenstern in 1944, game theory has shed new light on business, politics, economics, social psychology, philosophy, and evolutionary biology. In this book, its fundamental ideas are developed with mathematics at the level of high school algebra and applied to many of these fields (see the table of contents). Ideas like “fairness” are presented via axioms that fair allocations should satisfy; thus the reader is introduced to axiomatic thinking as well as to mathematical modeling of actual situations.
Author : Dean Paxson
Publisher : Elsevier
ISBN 13 : 0080497977
Total Pages : 345 pages
Book Rating : 4.0/5 (84 download)
Download or read book Real R & D Options written by Dean Paxson and published by Elsevier. This book was released on 2002-12-05 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Real R&D options are among the earliest modelled real options, with now ten primary practical uses: general R&D planning, planning R&D in stages, evaluating test information, new product development timing, operations, abandonment, risk sharing, market funding, industry strategy and regulation. This book was partly motivated by requests to identify and develop real option models for R&D in telecommunications, petroleum technology and biotechnology. Nine new models cover information and implementation costs, analytical solutions for mean reverting, or fat tailed revenues, endogenous learning and exogenous and experiential shocks, American sequential options, and innovator advantages. Four new applications include forward start development options, exploration options, innovation with information costs, and innovator's real values with changing market share. R&D directors and researchers will find several uses for these models: - general R&D planning - evaluating test information - new product development timing - risk sharing - industry strategy and regulation - A practical guide to how organizations can use Real Option techniques to effectively value research and development by companies - Provides a rigorous theoretical underpinning of the use of Real Option techniques - Real Options applications are orientated around the economies of North America, Europe and Asia, for an international perspective
Author : David Mueller
Publisher : Springer
ISBN 13 : 331961603X
Total Pages : 453 pages
Book Rating : 4.3/5 (196 download)
Download or read book Game Theory in Management Accounting written by David Mueller and published by Springer. This book was released on 2017-09-21 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates what kind of problems, originating in a management accounting setting, may be solved with game theoretic models. Game theory has experienced growing interest and numerous applications in the field of management accounting. The main focus traditionally has been on the field of non-cooperative behaviour, but the area of cooperative game theory has developed rapidly and has received increasing attention. Intensive research, in combination with the changing culture of publishing, has produced a nearly unmanageable number of publications in the areas concerned. Therefore, one main purpose of this volume is providing an intensive analysis of the intersection of these areas. In addition, the book strengthens the relationship between the theory and the practical applications and it illustrates the two-sided relationship between game theory and management accounting: new game theoretic models offer new fields of applications and these applications raise new questions for the theory.
Author : Len Fisher
Publisher : Basic Books
ISBN 13 : 0786726938
Total Pages : 280 pages
Book Rating : 4.7/5 (867 download)
Download or read book Rock, Paper, Scissors written by Len Fisher and published by Basic Books. This book was released on 2008-11-04 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praised by Entertainment Weekly as “the man who put the fizz into physics,” Dr. Len Fisher turns his attention to the science of cooperation in his lively and thought-provoking book. Fisher shows how the modern science of game theory has helped biologists to understand the evolution of cooperation in nature, and investigates how we might apply those lessons to our own society. In a series of experiments that take him from the polite confines of an English dinner party to crowded supermarkets, congested Indian roads, and the wilds of outback Australia, not to mention baseball strategies and the intricacies of quantum mechanics, Fisher sheds light on the problem of global cooperation. The outcomes are sometimes hilarious, sometimes alarming, but always revealing. A witty romp through a serious science, Rock, Paper, Scissors will both teach and delight anyone interested in what it what it takes to get people to work together.
Author : Prajit K. Dutta
Publisher : MIT Press
ISBN 13 : 0262368501
Total Pages : 713 pages
Book Rating : 4.2/5 (623 download)
Download or read book Strategies and Games, second edition written by Prajit K. Dutta and published by MIT Press. This book was released on 2022-08-09 with total page 713 pages. Available in PDF, EPUB and Kindle. Book excerpt: The new edition of a widely used introduction to game theory and its applications, with a focus on economics, business, and politics. This widely used introduction to game theory is rigorous but accessible, unique in its balance between the theoretical and the practical, with examples and applications following almost every theory-driven chapter. In recent years, game theory has become an important methodological tool for all fields of social sciences, biology and computer science. This second edition of Strategies and Games not only takes into account new game theoretical concepts and applications such as bargaining and matching, it also provides an array of chapters on game theory applied to the political arena. New examples, case studies, and applications relevant to a wide range of behavioral disciplines are now included. The authors map out alternate pathways through the book for instructors in economics, business, and political science. The book contains four parts: strategic form games, extensive form games, asymmetric information games, and cooperative games and matching. Theoretical topics include dominance solutions, Nash equilibrium, Condorcet paradox, backward induction, subgame perfection, repeated and dynamic games, Bayes-Nash equilibrium, mechanism design, auction theory, signaling, the Shapley value, and stable matchings. Applications and case studies include OPEC, voting, poison pills, Treasury auctions, trade agreements, pork-barrel spending, climate change, bargaining and audience costs, markets for lemons, and school choice. Each chapter includes concept checks and tallies end-of-chapter problems. An appendix offers a thorough discussion of single-agent decision theory, which underpins game theory.
Author : Aviad Heifetz
Publisher : Cambridge University Press
ISBN 13 : 0521176042
Total Pages : 461 pages
Book Rating : 4.5/5 (211 download)
Download or read book Game Theory written by Aviad Heifetz and published by Cambridge University Press. This book was released on 2012-05-31 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: A guide to the fundamentals of game theory for undergraduates and MBA students.
Author : Adam Brandenburger
Publisher : Harvard Business Review Press
ISBN 13 : 1633691292
Total Pages : 99 pages
Book Rating : 4.6/5 (336 download)
Download or read book Right Game written by Adam Brandenburger and published by Harvard Business Review Press. This book was released on 2009-10-01 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business is like war: The best combatant wins while the worst loses, right? Not necessarily. Companies can succeed spectacularly without destroying others. And they can lose miserably after competing well. Exceptional businesses win by actively shaping the game they're playing, not playing the game they find. The Right Game shows you how to do this—by altering who's competing, what value each player brings to the table, and which rules and tactics players use. Since 1922, Harvard Business Review has been a leading source of breakthrough ideas in management practice. The Harvard Business Review Classics series now offers you the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world.
Author : Prasad Kodukula
Publisher : J. Ross Publishing
ISBN 13 : 9781932159431
Total Pages : 256 pages
Book Rating : 4.1/5 (594 download)
Download or read book Project Valuation Using Real Options written by Prasad Kodukula and published by J. Ross Publishing. This book was released on 2006-07-15 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business leaders are frequently faced with investment decisions on new and ongoing projects. The challenge lies in deciding what projects to choose, expand, contract, defer, or abandon, and which method of valuation to use is the key tool in the process. This title presents a step-by-step, practical approach to real options valuation to make it easily understandable by practitioners as well as senior management. This systematic approach to project valuation helps you minimize upfront investment risks, exercise flexibility in decision making, and maximize the returns. Whereas the traditional decision tools such as discounted cash flow/net present value (DCF/NPV) analysis assume a “fixed” path ahead, real options analysis offers more flexible strategies. Considered one of the greatest innovations of modern finance, the real options approach is based on Nobel-prize winning work by three MIT economists, Fischer Black, Robert Merton, and Myron Scholes.
Author : Paul A. Papayoanou
Publisher : Probabilistic Publishing
ISBN 13 : 9780964793873
Total Pages : 173 pages
Book Rating : 4.7/5 (938 download)
Download or read book Game Theory for Business written by Paul A. Papayoanou and published by Probabilistic Publishing. This book was released on 2010 with total page 173 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business executives, managers, and negotiators regularly interact in ways that resemble a game of chess. Yet while game theory is the leading tool in academia for analyzing such interdependent choices, its use in the business world has been limited by its perceived lack of practicality. Until now, that is. "Game Theory for Business: A Primer in Strategic Gaming" outlines a straightforward, practical approach for using game theory. The book demonstrates how Strategic Gaming has, can, and should be applied to help savvy strategists and negotiators shape and play the game of business effectively.
