A Stochastic Control Framework for Real Options in Strategic Evaluation
Language: English
Published by Birkhäuser, 2011
- Softcover
- New
Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH
AbeBooks seller since August 14, 2006
Condition: New
£ 56.20
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Add to basketItem description from seller
Druck auf Anfrage Neuware - Printed after ordering - The theoretical foundation for real options goes back to the mid 1980sand the development of a model that forms the basis for many currentapplications of real option theory. Over the last decade the theoryhas rapidly expanded and become enriched thanks to increasing researchactivity. Modern real option theory may be used for the valuation ofentire companies as well as for particular investment projects in thepresence of uncertainty. As such, the theory of real options can serveas a tool for more practically oriented decision making, providingmanagement with strategies maximizing its capital market value.This book is devoted to examining a new framework for classifying realoptions from a management and a valuation perspective, giving theadvantages and disadvantages of the real option approach. Impulsecontrol theory and the theory of optimal stopping combined withmethods of mathematical finance are used to construct arbitrarilycomplex real option models which can be solved numerically and whichyield optimal capital market strategies and values. Various examplesare given to demonstrate the potential of this framework.This work will benefit the financial community, companies, as well asacademics in mathematical finance by providing an important extensionof real option research from both a theoretical and practical point ofview.…
Seller Inventory # 9781461274018
- Title
- A Stochastic Control Framework for Real Options in Strategic Evaluation
- Author
- Alexander Vollert
- Publisher
- Birkhäuser
- Publication year
- 2011
- Condition
- Neu
- Binding
- Taschenbuch
- Language
- English
- ISBN 10
- 146127401X
- ISBN 13
- 9781461274018
- Item weight
- 441 grams
- Dimensions
- 235x155x16 mm
"Synopsis" may belong to another edition of this title.
Review
"The book is written in a quite self-contained manner, and gives a nice survey of the results on the subject, old and new. Many graphics are provided along with theoretical illustrations to help explain the materials throughout the book. Numerical analysis as well as simulation are also provided in Chapter 6, which is particularly useful for both academic researchers and real world practitioners. Various examples are provided in the book in order to show the potential of the new framework. ...Could also be used as a reference book or as a source of problems for stochastic controlists."
―Mathematical Reviews
"This book is devoted to developing both a stochastic control framework that is capable of dealing with complex real option interactions and a graphical decomposition method for real option models which can be transformed into numerical or analytical solution procedures."
―Zentralblatt Math
"The present book develops a framework of stochastic control for real options. The tools are stochastic impulse control systems leading to partial differential equations and variational inequalities. The book is particularly useful for readers interested in applications in management science."
―Monatshefte für Mathematik
"About the title" may belong to another edition of this title.
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