Peer-reviewed· Macroeconomics

Capital Allocation Under Deep Uncertainty

Evidence from 1,100 investment committees on how option-value thinking changes what gets funded.

Dr. Samuel AdeyemiLondon School of Economics20 min readDOI 10.5555/bpj.2026.127
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For more than a decade, executives have been told that the next platform, the next suite of tools, or the next wave of automation would finally lift productivity. The evidence assembled here suggests a more uncomfortable reading: the technology rarely fails on its own terms. What fails is the organisational scaffolding around it.

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