About the book
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.
Editions of Competitive Strategy
- Hardcover
- ISBN 9780262015998
- Paperback
- ISBN 9780262526715
- EBook
- ISBN 9780262297837
- EBook
- ISBN 9780262298711
- EBook
- ISBN 9780262299602
Read an 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.
Frequently Asked Questions
What is Competitive Strategy about?
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.
What core themes, tropes, or subjects are explored in Competitive Strategy?
Economics, Finance, Business and Management > Finance and accounting > Finance and the finance industry
Where can I read a sample of Competitive Strategy?
You can read an official preview of the few pages here https://www.book2look.com/book/9780262015998
Who is/are the Author/s of the book Competitive Strategy?
Benoit Chevalier-Roignant, Lenos Trigeorgis
Who is the Publisher of the book Competitive Strategy?
MIT Press
What are the ISBN numbers for the physical and digital editions?
Competitive Strategy is available as hardcover(ISBN 9780262015998) and paperback(ISBN 9780262526715) and ebook(ISBN 9780262297837) and ebook(ISBN 9780262298711) and ebook(ISBN 9780262299602)
Where can I buy Competitive Strategy online or support local independent bookshops?
You can buy Competitive Strategy from below
Where can I buy Competitive Strategy?