How much should a pharmaceutical company invest in R&D for a new drug?
At what point do the costs outweigh the benefits of a new technology?
When should you abandon that oil-drilling project?
Real options is an exciting but very challenging subject for many strategy and corporate finance practitioners. Real Options in Practice is an excellent book to get a structured and accurate overview of real options, their use and computation. Marion Brach has succeeded in striking a difficult balance between theoretical firmness and practical actionability: her book is easy to read without sacrificing the richness of a subject that is more and more important for investment decision-making. Remy Schosmann, Partner, Corporate Finance,and global head of strategic options management at Ernst & Young. Marion Brach makes applied option theory accessible to the practitioner without neglecting technical rigor. Any manager seeking a solid foundation in option concepts – and how to profit by them – should start with this book. John L. McCormack, Senior Vice President
Stern Stewart & Company