Consideración de La Flexibilidad en El Análisis (Opciones Reales Introducing Flexibility in the Analysis : Real Options)

This is a course material from the book Managerial Decision Making Under Risk and Uncertainty. The book is originally in Spanish and is untitled as Decisiones empresariales bajo riesgo e incertidumbre. The level of the book is basic. We use very few mathematics and it is expected to be used by managers.In this tenth and last chapter we present a brief and simple introduction to financial options and the Black-Scholes model. Using the basic concept of options we introduce the reader to the idea of real options to profit from flexibility and variability and volatility