Developing real option game models

摘要: By mixing concepts from both game theoretic analysis and real options theory, an investment decision in a competitive market can be seen as ‘‘game’’ between firms, firms implicitly take into account other firms’ reactions to their own actions. We review two decades of option models, suggesting which critical problems have been ‘‘solved’’ by considering significant not yet adequately addressed. provide some insights on the plausible empirical applications, or shortfalls applications date, suggest promising avenues for future research.