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Uncertainty, Flexibility, and Real Options
(2011)
This chapter discusses the strategy formulation challenges encountered by firms when the underlying market is uncertain. Motivated by the uncertainty faced by European electric utilities, it discusses how real options ...
Contingent Convertible Bonds for Sovereign Debt Risk Management
(2018)
We consider convertible bonds that contractually stipulate payment standstill, contingent on a market indicator of a sovereign’s credit worthiness breaching a distress threshold. This financial innovation limits ex ante ...
Investment options with debt-financing constraints
(2012)
A contingent claims model is used to study the impact of debt-financing constraints on firm value, optimal capital structure, the timing of investment and other variables, such as credit spreads. The optimal investment ...
Real Options in Operations Research: A Review
(2018)
The Real Options approach to decision-making has been useful in capturing and valuing the flexibility inherent in many operating decisions that decision makers are faced with. In Operations Research (OR), a field that ...
Market Structure Games: Static Approaches
(2011)
This chapter discusses static market structure games. It begins by describing the benchmark case of a monopolist, developing the basic building blocks for subsequent models. It then introduces static models of duopoly, ...