: The Conventional Wisdom in Strategy -- Chapter 4: Strategic Optionality: Introducing the Idea -- Chapter 5: Optionality …This book offers a fresh approach to strategy by examining the idea of Optionality. Optionality is the right, but not …) Robust, and (3) Long-shot (FRL), which alert us to the context-specificity of strategy tools, before suggesting that …

We argue that capital misallocation arises endogenously due to incomplete consumption insurance. We model risk …

static superhedge, i.e. a buy-and-hold strategy generating an affine-linear payoffs. We study whether a superhedge can be … kind of the non-traded risk factors. Our main findings for a stochastic volatility model with unbounded volatility show … which require the same initial capital. In a model with stochastic jumps, it is always ither a dynamic or a static strategy …