Research contributions providing insights at the intersection of real options analysis and industrial organization have become numerous in the recent decade. In the present paper, we provide an overview aimed at categorizing and relating these research streams. We highlight managerial insights...

We investigate whether time-series volatility in book-to-market (UNC) is priced in equity returns. UNC captures uncertainty about the current value of the firm's portfolio of assets-in-place and real options, and reflects changes in moneyness and uncertainty in the exercise of these options. UNC...