While there is practitioner interest in real options (RO), there are significant difficulties in practitioner use of complicated RO models, such as compound options pricing models (OPMs) of multistage investments. Drawing upon theories of learning and knowledge, we propose a general framework...

This paper proposes a systematic approach to certain parameter estimation problems relevant to applied optimization models. A context-specific measure of decision maker performance called decisional efficiency is defined as a function of the unknown parameter vector. The values of this measure...