Book based on my PhD and subsequent work experience. However, the education on decision making and decision analysis does not consider flexibility.
Decision makers do consider flexibility.
Too much flexibility can cause distress. In the finance literature, flexibility is valued in option pricing theory. As such, it is embedded in financial instruments to hedge against market uncertainty and other types of risk. The convergence of decision analysis and option pricing in the valuation of flexibility has been studied only in the last 5 years. The former include buying house, car, PC, stereo, and anything else that is quite complicated.