"A Real Options Logic for Initiating Technology Positioning Investments"
©
Academy of Management Review,
October
1997
Volume: 22
|
Issue: 4
|
Pages: 974-96
Publication type: Journal article
Research Archive Topic: Media and Technology, Strategy
Abstract
In this article I extend real options theory to technology positioning projects and specify how the relationship between boundary conditions and uncertainty influences the value of a technology option, as well as the appropriate timing of its exercise. I also take a strategic perspective on uncertainty itself, concluding that option value can be amplified by investments to shift boundaries, ideally in ways that are idiosyncratic to the firm.
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