Daunfeldt, Sven-Olov, Orth, Matilda och Rudholm, Niklas (2010). ”Opening Local Retail Food Stores: A Real-Options Approach.” Journal of Industry, Competition and Trade, 10(3):373-387.
Abstract: A real-options approach was used, incorporating uncertainty and irreversibility of investments, to study the number of stores entering the Swedish retail food market during the period 1994–2002. It was found that uncertainty affected the entry-decision. Entry was less frequent in highly concentrated local retail food-markets characterized by a high degree of uncertainty, whereas higher profit opportunities seem to have increased the probability of entry.