What does real options mean in cultural borrowing

Real options in cultural borrowing refers to the idea that adopting certain cultural elements (like technologies, ideas, or practices) can create future opportunities or flexibility for the borrowing culture. These adopted elements are not just adopted for their immediate benefit but for the potential they unlock, much like financial options give the holder the right, but not the obligation, to buy or sell an asset in the future.

These options are "real" because they are tangible or practical changes within the culture (e.g., a new farming technique, a different form of governance, a new artistic medium). They are "cultural" because they are elements that are borrowed and integrated into the social fabric.

For instance, a society might borrow advanced irrigation techniques from another culture. This borrowing is a real option because it not only improves current agricultural output but also opens up possibilities for expanding agriculture into new areas, supporting a larger population, or diversifying crops in the future, providing flexibility and strategic advantage. The adoption of the technique itself is the "option" that creates future potential.

Real options in cultural borrowing are adopted cultural elements that provide future flexibility and opportunities for the borrowing society.