Real Options : Management Flexibility and Strategy in Resource

A book nearly three years old and now in its third edition would seem an odd choice to review in this journal, particularly since it does not appear to be relevant to the telecommunications industry. It is exactly for this reason that we are reviewing Real Options by Lenos Trigeorgis first published in 1996 -it would not be generally recognized as applicable to the telecommunications industry. However, real options theory and methods have profound implications for the telecommunications industry and, indeed, for the development of economic theory.