Dr. Benoît Chevalier-Roignant

Welcome to my personal webpage :-) 

My research lies at the intersection of real options theory, stochastic control, and strategic decision-making under uncertainty, with applications to operations management, corporate finance, and energy economics. I study dynamic investment decisions, capacity and innovation strategies, and the role of uncertainty, ambiguity, and competition in shaping firm behavior. My work has been published in leading journals such as Operations Research, Production and Operations Management, Journal of Economic Dynamics and Control, and the European Journal of Operational Research, as well as in a research monograph published by MIT Press. Ongoing projects extend these themes to topics including supply chain finance, renewable energy investment, infrastructure and PPP design, and the economic implications of rare events and ambiguity.

Representative peer-reviewed academic works

Over the past few years, I have published numerous articles in top peer-reviewed journals such as Operations Research (UTD List), Production & Operations Management (UTD List) and the European Journal of Operational Research (ABS 4). I also co-authored Competitive Strategy: Options and Games (with Lenos Trigeorgis) published at The MIT Press. Competitive Strategy has been selected among the best books in strategy by strategy + business, the management magazine published by the strategy consulting firm PwC Strategy&. 

Below a list of representative publications (by decreasing chronological order):

• Coinvestment games under uncertainty (with Stéphane Villeneuve, Fabien Delpech, May-Line Grapotte). Published at the Journal of Economic Dynamics and Control [https://www.sciencedirect.com/science/article/abs/pii/S0165188925000648?dgcid=author]

• When and how should an incumbent respond to a potentially disruptive event? Published at the Journal of Economic Dynamics and Control in 2024 [https://www.sciencedirect.com/science/article/pii/S0165188924001660?casa_token=Drw-gfOUKJsAAAAA:vO-rEDdEKgk1miWAIJXCebswP5Aev3Ea5aJAIW7mTF6XclIY0QSY08037T1mvrwMi_dNu5WZX91z]

• Monetizing positive externalities on property prices to mitigate the infrastructure underinvestment problem (with Hao Bai, Alain Bensoussan, and Gordon Briest). Published at Operations Research in 2024 [https://pubsonline.informs.org/doi/abs/10.1287/opre.2023.0075]

• Stochastic control for diffusions with self-exciting jumps: An overview with Alain Bensoussan published at Mathematical Control and Related Fields [https://www.aimsciences.org/article/doi/10.3934/mcrf.2024038. 

• Financing green entrepreneurs under limited commitment}" with Alain Bensoussan, Nam Nguyen, and Alejandro Rivera published at the Journal of Economic Dynamics and Control in 2024 [https://www.sciencedirect.com/science/article/abs/pii/S0165188924001222]

• A model of wind farm with option interactions (with Alain Bensoussan and Alejandro Rivera) published at Production &  Operations Management in 2022 [https://doi.org/10.1111/poms.13721]

• Does performance-sensitive debt mitigate the debt overhang? (with Alain Bensoussan and Alejandro Rivera) published at the Journal of Economic Dynamics and Control (131) in 2021 [https://doi.org/10.1016/j.jedc.2021.104203] 

• Capacity investment choices under cost heterogeneity and output flexibility in oligopoly  (with Christoph Flath, Peter Kort and Lenos Trigeorgis) published at the European Journal of Operational Research in 2021 [https://doi.org/10.1016/j.ejor.2020.08.046]

• Disruptive Innovation, Market Entry and Production Flexibility in Heterogeneous Oligopoly (with Christoph Flath and Lenos Trigeorgis) published at Production & Operations Management in 2019 [https://doi.org/10.1111/poms.12995] 

• Sequential capacity expansion options (with Alain Bensoussan) published at Operations Research in 2018 [https://doi.org/10.1287/opre.2018.1752]

• Strategic investment under uncertainty: A synthesis (with Christoph Flath, Arnd Huchzermeier and Lenos Trigeorgis), published at the European Journal of Operational Research in 2011 [https://doi.org/10.1016/j.ejor.2011.05.038]

• Competitive Strategy: Options and Games (with Lenos Trigeorgis). Published in 2011 at The MIT Press ISBN: 9780262015998 https://mitpress.mit.edu/books/competitive-strategy

Curriculum Vitae

I joined emlyon business school in September 2020 after several years spent in the UK at Cranfield School of Management, Cranfield University, and at King’s Business School, King’s College London.  I obtained a habilitation to conduct research (HDR) at Toulouse, a PhD (“Dr.rer.pol.”) from WHU – Otto Beisheim School of Management, a diploma (“Diplom-Kaufmann”) from WHU, and a Master's in Management with a concentration in Finance from emlyon business school. Furthermore, I was a postdoctoral fellow at the University of Texas at Dallas and a visiting scholar at MIT Sloan School of Management, The University of Chicago Booth School of Business and Kellogg School of Management at Northwestern University. I am an affiliate of the International Center for Decision and Risk Analysis at University of Texas at Dallas.

Besides my academic track record, I gained practical business experience after several years working at leading strategy consulting firms, especially in private equity-advisory roles (L.E.K. Consulting, EY, Oliver Wyman).