From the Editors…

In this issue, Brandao, Dyer, and Hahn propose an approach for project valuation that implements real-options methods using standard decision analysis tools. Smith provides a critique of the Brandao, Dyer, and Hahn approach and suggests alternative analytical approaches. In a response, Brandao, Dyer and Hahn concede several of Smith’s points, but argue that their approach may still prove useful for many problems, and that it provides a more accessible modeling framework than the alternatives. Another contribution addresses a method for using partial preference information to support the implementation of the even swaps method for making multiattribute value trade-offs.