... in health, research relevance is reached. By applying scientific knowledge when developing the tool, rigor is achieved. Findings Major elements of the decision support tool developed are real options to describe flexibility and its consequences for corporate real estate management, and the backcasting...

... flexibility is developed. A model, based on real options techniques for valuing managerial flexibility, is constructed to answer the following question: how much is it worth to invest in a space that could be renovated to office space for a specified renovation cost in the future? Decision makers can use...

... entrepreneurial flexibility gained by real estate holdings against the financial opportunity cost of freeing up capital. Making use of a prototype decision situation, the paper demonstrates how the decision maker can improve the underlying information basis for property divestment decisions, using a real option...