Are Real Options “Real”?

Research Methodology in Strategy and Management

ISBN: 978-0-76231-208-5, eISBN: 978-1-84950-344-0

ISSN: 1479-8387

Publication date: 19 July 2005


I am interested in clarifying the discussion of how researchers might try to isolate real option effects to identify whether managerial decisions are guided by a real option heuristic. If we are to claim that the theory of real options illuminates managerial behavior, then as a field, we must converge on an understanding as to what constitutes a real option effect, and what does not. The discussion centers on hypothesis development, measurement issues, and research methodology.


Folta, T.B. (2005), "Are Real Options “Real”?", Ketchen, D.J. and Bergh, D.D. (Ed.) Research Methodology in Strategy and Management (Research Methodology in Strategy and Management, Vol. 2), Emerald Group Publishing Limited, Bingley, pp. 93-109.

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