www.real-options.com, a website that supports our book,
Real Options: Managing Strategic Investment in an Uncertain
World, and also provides introductory information and links
on the topic including stock options and the AMT taxation.
writing our book on real options in 1996, more than eight years
ago. At that time real options was a compelling academic concept,
and one that seemed to have important managerial applications.
We wanted to bridge academic knowledge and managerial practice,
and to bring the real options approach to managers - without a
heavy burden of math. The publication of our book in late 1998
coincided with a rising stock market. In those heady days, real
options was seen as a way of possibly explaining high stock values
and also as a way of identifying and organizing company strategy
around valuable growth opportunities.
auspicious start, there have been many other books written on
real options and a wide range of corporate experience. We're delighted
to have been part of the momentum, and through our academic, consulting
and involvement in startups have been using real options frameworks
We would like
to share our lessons learned, success stories and classroom perspectives
with you through this website. You'll find links to articles,
books, other rich real options websites and also a few essays
that capture our thinking on the benefits and the pitfalls of
the real options approach.
we welcome your comments and feedback. Send us e-mail by clicking here
Martha Amram & Nalin Kulatilaka