New PDF release: A Pragmatic Guide to Real Options

By T. Arnold

ISBN-10: 1137391162

ISBN-13: 9781137391162

ISBN-10: 134948301X

ISBN-13: 9781349483013

Aimed at practitioners with no earlier services within the subject, this book helps readers build simple actual suggestions types to help in decision-making. Providing a pragmatic and informative process, the authors introduce uncomplicated chance theories, before placing those theories right into a real-world context.

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Additional info for A Pragmatic Guide to Real Options

Example text

E.. , like a short position on a call option in which the strike price is below the spot price). If a firm is the short position on a call-like real option, the value of giving such an option should revert to the short position. , receives an option premium). In general, a firm should always be aware of when it provides an option to another party. The option provided is valuable and should not be given away for free. Two other option pricing components that are not part of a financial option contract need to be discussed.

However, the sequential dice game is much better for the player (investor) because the opportunity to lose money is reduced, and if there is an opportunity to sell a second roll of the die, given an initial roll of 6 with the first die, additional possibilities for the player (investor) emerge. Although illustrative, is the game of chance and the sequencing of it comparable to what is seen in reality? The answer is yes. For example, when an entrepreneur starts a business, there are very few investors because a great number of these ventures fail for various reasons.

However, to be more efficient at valuing real options, the use of “probability” is essential. Fortunately, much of the necessary knowledge of probability is not extensive. 3 Data, Mean, Variance, and Standard Deviation In this text, probability will be taught and illustrated as needed with attention given to developing intuition. To develop the topic, assume there are ten possible future values for a variable X: 1, 1, 2, 2, 2, 2, 2, 3, 4, and 4. , this is the whole population of what can happen and not a sample from the population).

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A Pragmatic Guide to Real Options by T. Arnold


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