Playing at acquisitions behavioral option games

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playing at acquisitions behavioral option games

Thras Moraitis (Author of Playing at Acquisitions)

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Behavioral Game Theory - Practical Applications of Conflict Analysis

Playing at Acquisitions: Behavioral Option Games

Suppose there are two types of CEOs who differ in how they approach their investment decisions. The first we call the designers. These executives have a clear view of their desired competitive positioning and of the means and metrics of success in their chosen competitive playing field, and intend to design and execute premeditated strategic paths. The others—named opportunists —may also have a clear view of how value is created in their chosen playing field, but are not committed to a master plan, preferring instead to continuously take advantage of any opportunities that fit their value criteria as they emerge and when conditions are favorable to them. Both of these CEO types have their shortcomings. For designers, successfully executing an envisioned acquisition strategy without any apparent mistakes will be a difficult task.

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It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls.

Please choose whether or not you want other users to be able to see on your profile that this library is a favorite of yours. Finding libraries that hold this item Practitioners in mergers and acquisitions should certainly consider adding this book to their existing toolkit. It invites readers to explore a series of case studies and real-life examples and guides them through the novel tools that are available to them, as well as the advantages and pitfalls of their use. Accessible yet theoretically rigorous, Playing at Acquisitions subdivides complex strategies into manageable building blocks and illustrates concepts through an in-depth study of a successful multistage acquisitions strategy. Baldwin, Harvard Business School "This accessible book provides important tools to enrich existing valuation techniques and teaches how to deal with economic uncertainty, strategic interaction between economic agents, and behavioral biases.

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  1. It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncerta.

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