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Playing at AcquisitionsBehavioral Option Games$
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Han Smit and Thras Moraitis

Print publication date: 2015

Print ISBN-13: 9780691140001

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691140001.001.0001

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Conclusion and Implications

Conclusion and Implications

(p.151) Chapter 7 Conclusion and Implications
Playing at Acquisitions

Han Smit

Thras Moraitis

Princeton University Press

This chapter reviews the strategic framework that integrates options and competitive games to de-bias decision making, and recaps the main conclusions and strategy implications. It provides empirical evidence that acquisitions are driven by growth options and behavioral economics, discusses examples of option game applications beyond acquisitions, and lists promising directions for future research. Most important, it provides a decision framework for directly integrating finance and acquisition strategy in uncertain environments. The authors hope that this book helps readers apply an options perspective to significant nonfinancial decisions, including such vital life decisions such as the design of one's education strategy or career plan, or more common problems such how to plan holiday journeys. They believe valuable lessons can be learned as the reader applies the insights in this book to a broader set of uncertainty problems, although they are impossible to quantify.

Keywords:   option games, competitive games, acquisitions, decision framework, acquisition strategy

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