Real Options in Practice
Marion A. Brach
John Wiley & Sons
How much should a pharmaceutical company invest in R&D for a new drug?      <P>At what point do the costs outweigh the benefits of a new technology?      <P>When should you abandon that oil-drilling project?      <P>''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.''       вЂ“Remy Schosmann, Partner, Corporate Finance, and global head of strategic options management at Ernst & Young      <P>''Marion Brach makes applied option theory accessible to the practitioner without neglecting technical rigor. Any manager seeking a solid foundation in option conceptsвЂ“and how to profit by themвЂ“should start with this book.''       вЂ“John L. McCormack, Senior Vice President        Stern Stewart & Company