{"id":"https://openalex.org/W2071597746","doi":"https://doi.org/10.5465/amr.2004.11851738","title":"Real Options and Real Tradeoffs","display_name":"Real Options and Real Tradeoffs","publication_year":2004,"publication_date":"2004-01-01","ids":{"openalex":"https://openalex.org/W2071597746","doi":"https://doi.org/10.5465/amr.2004.11851738","mag":"2071597746"},"language":"en","primary_location":{"id":"doi:10.5465/amr.2004.11851738","doi":"https://doi.org/10.5465/amr.2004.11851738","is_oa":false,"landing_page_url":"https://doi.org/10.5465/amr.2004.11851738","pdf_url":null,"source":{"id":"https://openalex.org/S46763546","display_name":"Academy of Management Review","issn_l":"0363-7425","issn":["0363-7425","1930-3807"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316266","host_organization_name":"Academy of Management","host_organization_lineage":["https://openalex.org/P4310316266"],"host_organization_lineage_names":["Academy of Management"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Academy of Management Review","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5059488930","display_name":"Ron Adner","orcid":"https://orcid.org/0000-0003-1238-2248","observed_orcids":["https://orcid.org/0000-0003-1238-2248"]},"institutions":[{"id":"https://openalex.org/I102272798","display_name":"INSEAD","ror":"https://ror.org/00ghzk478","country_code":"FR","type":"education","lineage":["https://openalex.org/I102272798"]},{"id":"https://openalex.org/I4210149427","display_name":"INSEAD","ror":"https://ror.org/05qxkh644","country_code":"AE","type":"education","lineage":["https://openalex.org/I102272798","https://openalex.org/I4210149427"]},{"id":"https://openalex.org/I4210152270","display_name":"INSEAD","ror":"https://ror.org/05ynf4333","country_code":"SG","type":"education","lineage":["https://openalex.org/I102272798","https://openalex.org/I4210152270"]},{"id":"https://openalex.org/I79576946","display_name":"University of Pennsylvania","ror":"https://ror.org/00b30xv10","country_code":"US","type":"education","lineage":["https://openalex.org/I79576946"]}],"countries":["AE","FR","SG","US"],"is_corresponding":false,"raw_author_name":"Ron Adner","raw_affiliation_strings":["INSEAD","INSEADThe Wharton School, University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"INSEAD","institution_ids":["https://openalex.org/I102272798","https://openalex.org/I4210149427","https://openalex.org/I4210152270"]},{"raw_affiliation_string":"INSEADThe Wharton School, University of Pennsylvania","institution_ids":["https://openalex.org/I79576946"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5030291124","display_name":"Daniel A. Levinthal","orcid":"https://orcid.org/0000-0002-8740-6091","observed_orcids":["https://orcid.org/0000-0002-8740-6091"]},"institutions":[{"id":"https://openalex.org/I79576946","display_name":"University of Pennsylvania","ror":"https://ror.org/00b30xv10","country_code":"US","type":"education","lineage":["https://openalex.org/I79576946"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Daniel A. Levinthal","raw_affiliation_strings":["The Wharton School, University of Pennsylvania","INSEADThe Wharton School, University of Pennsylvania"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Wharton School, University of Pennsylvania","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"INSEADThe Wharton School, University of Pennsylvania","institution_ids":["https://openalex.org/I79576946"]}]}],"institutions":[],"countries_distinct_count":4,"institutions_distinct_count":4,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":8.5189,"has_fulltext":false,"cited_by_count":107,"citation_normalized_percentile":{"value":0.97257072,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":93,"max":99},"biblio":{"volume":"29","issue":"1","first_page":"120","last_page":"126"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":1.0,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10003","display_name":"Innovation and Knowledge Management","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.0,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/real-options","display_name":"real options","score":0.9980000257492065},{"id":"https://openalex.org/keywords/experiments","display_name":"experimentation","score":0.5519999861717224},{"id":"https://openalex.org/keywords/follow-on-investment","display_name":"follow-on investment","score":0.6179999709129333},{"id":"https://openalex.org/keywords/implementation-barriers","display_name":"implementation barriers","score":0.47699999809265137},{"id":"https://openalex.org/keywords/strategic-management","display_name":"strategic management","score":0.4569999873638153}],"concepts":[{"id":"https://openalex.org/C2779816988","wikidata":"https://www.wikidata.org/wiki/Q305418","display_name":"Abandonment (legal)","level":2,"score":0.7649506330490112},{"id":"https://openalex.org/C177264268","wikidata":"https://www.wikidata.org/wiki/Q1514741","display_name":"Set (abstract data type)","level":2,"score":0.6219363212585449},{"id":"https://openalex.org/C2780586882","wikidata":"https://www.wikidata.org/wiki/Q7520643","display_name":"Simple (philosophy)","level":2,"score":0.5789185762405396},{"id":"https://openalex.org/C98045186","wikidata":"https://www.wikidata.org/wiki/Q205663","display_name":"Process (computing)","level":2,"score":0.574781060218811},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.49615225195884705},{"id":"https://openalex.org/C112930515","wikidata":"https://www.wikidata.org/wiki/Q4389547","display_name":"Risk analysis (engineering)","level":1,"score":0.46497488021850586},{"id":"https://openalex.org/C539667460","wikidata":"https://www.wikidata.org/wiki/Q2414942","display_name":"Management science","level":1,"score":0.44218388199806213},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.4201722741127014},{"id":"https://openalex.org/C195094911","wikidata":"https://www.wikidata.org/wiki/Q14167904","display_name":"Process management","level":1,"score":0.40666455030441284},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.37790292501449585},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.36845099925994873},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.1862570345401764},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.14839914441108704},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.09185385704040527},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C111919701","wikidata":"https://www.wikidata.org/wiki/Q9135","display_name":"Operating system","level":1,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.5465/amr.2004.11851738","doi":"https://doi.org/10.5465/amr.2004.11851738","is_oa":false,"landing_page_url":"https://doi.org/10.5465/amr.2004.11851738","pdf_url":null,"source":{"id":"https://openalex.org/S46763546","display_name":"Academy of Management Review","issn_l":"0363-7425","issn":["0363-7425","1930-3807"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310316266","host_organization_name":"Academy of Management","host_organization_lineage":["https://openalex.org/P4310316266"],"host_organization_lineage_names":["Academy of Management"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Academy of Management Review","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":17,"referenced_works":["https://openalex.org/W628172195","https://openalex.org/W1487321489","https://openalex.org/W1995503011","https://openalex.org/W2095239820","https://openalex.org/W2096338944","https://openalex.org/W2108795964","https://openalex.org/W2111739361","https://openalex.org/W2112870230","https://openalex.org/W2113490860","https://openalex.org/W2116421424","https://openalex.org/W2120671337","https://openalex.org/W2136519829","https://openalex.org/W2138038737","https://openalex.org/W2138535338","https://openalex.org/W2145291481","https://openalex.org/W4230940667","https://openalex.org/W4365787967"],"related_works":["https://openalex.org/W7100468416","https://openalex.org/W2120671337","https://openalex.org/W7097273395","https://openalex.org/W2044113816","https://openalex.org/W7095701753","https://openalex.org/W1554396416","https://openalex.org/W2482897380","https://openalex.org/W4313008780","https://openalex.org/W7024124653","https://openalex.org/W2331659394"],"abstract_inverted_index":{"The":[0],"commentaries":[1,60],"on":[2],"our":[3],"article":[4],"fail":[5,72],"to":[6,8,22,42,73,83,89],"come":[7],"grips":[9],"with":[10],"the":[11,23,59,62,76],"distinct":[12],"challenges":[13,30,53],"raised":[14],"by":[15,35,66],"a":[16,43],"process":[17],"of":[18,25,46,57,78],"experimentation":[19],"that":[20,38],"leads":[21],"discovery":[24],"new":[26],"possible":[27,47],"initiatives.":[28],"These":[29],"differ":[31],"from":[32],"those":[33],"posed":[34],"an":[36],"investment":[37],"provides":[39],"privileged":[40],"access":[41],"prespecified":[44],"set":[45],"follow-on":[48],"investments.":[49],"By":[50],"treating":[51],"these":[52],"as":[54],"simple":[55],"problems":[56],"implementation,":[58],"ignore":[61],"strategic":[63],"tradeoffs":[64],"implied":[65],"efficient":[67],"abandonment":[68],"processes":[69],"and,":[70],"therefore,":[71],"clarify":[74],"where":[75],"logic":[77],"real":[79],"options":[80],"is":[81],"likely":[82],"be":[84],"more":[85],"(and":[86],"less)":[87],"helpful":[88],"strategy":[90],"thinking.":[91]},"counts_by_year":[{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":2},{"year":2021,"cited_by_count":11},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":4},{"year":2017,"cited_by_count":11},{"year":2016,"cited_by_count":7},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":2},{"year":2013,"cited_by_count":6},{"year":2012,"cited_by_count":4}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
