Lee, Seung-Hyun; Makhija, Mona; Paik, Yongsun - In: Journal of World Business 43 (2008) 1, pp. 16-34
Real options investments are expected to take their greatest value during periods of abnormally high uncertainty. This important proposition of real options is empirically difficult to test, since one cannot readily find such well-defined unanticipated periods affecting large numbers of firms....