What is replacing it is a wide array of non-standard contracts, all of which provide the firm with a real option
. That real option
gives the firm the right, but not the obligation, to flexibly adjust and optimally time the use of its worker's human capital assets.
"No-deal is not a real option
and the Government has not seriously prepared for it."
Speaking on Canal+ show Au Tableau, he told how he met with then-Arsenal manager Arsene Wenger, admitting a move to north London was a "real option
In his congratulation statement to the nation and President Saleh al-Sammad, the president of the Supreme Political Council, Chief al-Houthi said :"The best option to prevent destruction and chaos to the homeland is by adopting the peaceful transfer of power, as a real option
." The country marks the first anniversary of peaceful transfer of power, one year after the power was peacefully and in a democracy way transferred from the Supreme Revolutionary Committee to the Supreme Political Council.
Prior to discussing real option
solution methods, it is important to differentiate the term quasi-option value coined by Arrow and Fisher (1974), Fisher and Hanemann (1987), and Henry (1974) with ROA as defined by others.
If the decision can be altered without cost, the real option
has no value.
Many other types of real option
and examples of modelling techniques can be found in the literature.
The real option
approach is not widely used in business practice, despite the advice given in the academic literature to incorporate it in the assessment of a project.
ARNOLD, T Y CRACK, T, Real Option
Valuation Using NPV, SSRN: Social Science Research Network.
Recently, with considerable researches in this field, real option
approach (ROA), which is firstly brought up by Myers and Turnbull  and Ross , has been generally accepted as an appropriate method to help make decisions of metal mineral resources mining under uncertain circumstances.
In contrast to the traditional approach that uses expected cash-flows to value investment projects, the real option
approach takes into account the entire distribution of cash-flows, allowing the firm to react/respond during the course of the investment.
In addition to these three approaches, the real option
approach has become the latest (Boer 2004).