منابع مشابه
Getting real with Real Options
We apply a utility–based method to obtain the value of a finite–time investment opportunity when the underlying real asset is not perfectly correlated to a traded financial asset. Using a discrete–time algorithm to calculate the indifference price for this type of real option, we present numerical examples for the corresponding investment thresholds, in particular highlighting their dependence ...
متن کاملMergers and market valuation: real options approach
This paper investigates the connection between market valuation anda type of the merger (stock, cash) using real options setup. I solveexplicitly for the timing and terms of cash mergers in two deferent settingsto demonstrate that cash mergers generally occur at low marketvaluations, whereas stock mergers that may be observed at both low andhigh valuations; the result holds with some dierences ...
متن کاملSequential Search with Multiattribute Options
We describe a search problem in which a decision maker (DM) must select several sequentially-encountered options. Each option is described by multiple attributes, and the value of an option is given by a function of its attribute values. However, the attribute values are not known with certainty, and can only be ascertained in a predefined order, at some fixed cost. During the search the DM can...
متن کاملValuing flexibility in demand-side response: A real options approach
The investment interests in the electricity industry are transmitted through various mechanisms to other economic activities. This paper considers methods for esteeming the adaptability of demand-side response (DSR) in its capacity to react to future uncertainties. The capacity to evaluate this adaptability is particularly critical for vitality frameworks speculations given their extensive and ...
متن کاملSustainable Planning of Supply Chains in Large-Scale Systems with Real Options Analysis
This paper presents a structure that empower designing supervisory groups to survey the estimation of real options in projects of enormous scale, incompletely standardized frameworks actualized a couple of times over the medium term. Specific options writing is done using a methodology of planning the design and making prior decisions regarding the arrangements of specific options, with a recre...
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ژورنال
عنوان ژورنال: Economics of Innovation and New Technology
سال: 2010
ISSN: 1043-8599,1476-8364
DOI: 10.1080/10438599.2010.486527