The traditional current account can be an inaccurate measure of the change in the net foreign asset (NFA) position. Using gross asset and liability positions at the country level, a number of 'valuation effects' have been identified which contribute to changes in NFA but do not enter the reported current account. This paper uses new developments in the analysis of portfolio allocation in genera...

Customized electric power contracts catering to specific business and risk management needs have gained increasing popularity among large energy firms in the restructured electricity industry. A tolling agreement (or, tolling contact) is one such example in which a contract buyer reserves the right to take the output of an underlying electricity generation asset by paying a predetermined premiu...

In this paper we present a method for valuing a power plant over a short term period using Monte Carlo sim ulation The power plant valuation problem is formu lated as a multi stage stochastic problem We assume there are hourly markets for both electricity and the fuel used by the generator and their prices follow some Ito processes At each hour the power plant opera tor must decide to run or no...

Traditionally, the real estate asset assessment is performed by experienced valuators, who take into account its economic, social, physical and locational aspects. Nowadays, the construction industry is becoming more and more influenced by the sustainability requirements. Therefore, the inclusion of the sustainability evaluation into real estate asset valuation is of utmost importance. The Neut...

Several partners jointly own an asset that may be traded among them. Each partner has a valuation for the asset; the valuations are known privately and drawn independently from a common probability distribution. We characterize the set of all incentive-compatible and interim-individually-rational trading mechanisms, and give a simple necessary and sufficient condition for such mechanisms to dis...

This paper reviews the economic models most commonly applied to estimate the value of intellectual property and other forms of intangible assets. It highlights the key strengths and weaknesses of these models. One of the apparent weaknesses of the most commonly used valuation models is the failure to incorporate legal rights into their calculations. Creation, maintenance, and enforcement of leg...