Real option logic helps managers create value when making decisions because it focuses on managing the uncertainty concerning potential upside benefits and downside risks of an investment. Yet there is little research looking at real consequences export channel investments. We propose that investments vary in their ability to provide options present a novel classification channels. suggest face...

Urban designs, and in particular urban masterplans, must deal with an inherently uncertain future. However, practice, many masterplans still seem to underestimate or even ignore uncertainty. Some scholars have proposed design flexibility adaptivity as a way uncertainties, but formal framework has been lacking theory. Drawing upon theories of real options finance economics, for under conditions ...