Real Options in Theory and Practice
Series: Financial Management Association Survey and Synthesis Series;
- Publisher's listprice GBP 120.00
-
57 330 Ft (54 600 Ft + 5% VAT)
The price is estimated because at the time of ordering we do not know what conversion rates will apply to HUF / product currency when the book arrives. In case HUF is weaker, the price increases slightly, in case HUF is stronger, the price goes lower slightly.
- Discount 10% (cc. 5 733 Ft off)
- Discounted price 51 597 Ft (49 140 Ft + 5% VAT)
Subcribe now and take benefit of a favourable price.
Subscribe
57 330 Ft
Availability
printed on demand
Why don't you give exact delivery time?
Delivery time is estimated on our previous experiences. We give estimations only, because we order from outside Hungary, and the delivery time mainly depends on how quickly the publisher supplies the book. Faster or slower deliveries both happen, but we do our best to supply as quickly as possible.
Product details:
- Publisher OUP USA
- Date of Publication 30 July 2009
- ISBN 9780195380637
- Binding Hardback
- No. of pages432 pages
- Size 236x157x27 mm
- Weight 739 g
- Language English
- Illustrations 52 black and white line illustrations 0
Categories
Short description:
Real options analysis is 30 years old, but there is still little guidance on how actually to implement it in practice. This book develops the building blocks of real options analysis and shows readers how to apply them to a wide variety of problems in business and economics.
MoreLong description:
Decision makers in business and economics face a staggering array of problems. Managers of growing firms have to decide which growth options will expand their business. Governments have to decide which infrastructure investments to undertake. Managers of oil firms must decide how rapidly to deplete their reserves. Owners of land must decide when and how to develop. Operators of power plants must decide when to start them up and when to shut them down. While these problems seem quite diverse, they share many important features. In each case, the decision maker must choose when to take a particular action that will be difficult, if not impossible, to reverse. In each case, the consequences of taking (or not taking) that action are uncertain. The timing and nature of these actions directly affect revenue.
Real options that often vary radically from one problem to another. The book focuses on building a general approach to solving problems from the ground up to show readers how real options can be assembled in a way appropriate to the individual problem being analyzed. The book will inform both practitioners who want to develop their analytical techniques and also graduate students who will eventually become practitioners.
The real-options approach to capital budgeting (and business decision-making more generally) was introduced 30 years ago and is now widely accepted. While there are now many books that introduce the concept of real options to a general business audience, students and practitioners have been given little guidance as to how to actually implement these concepts in practice.
Table of Contents:
Preface
1 Introduction
Foundations
The modeling framework
Valuing single-period cash flows
Valuing multi-period cash flows
Combining valuation and decision making
II Component Real Options
Options that do not affect the state of a project
Simple timing options
Compound timing options
Ãber-compound timing options 200
Switching options
Learning options
III Calibrating the Model 293
Calibration using spot and futures price data 294
Calibration using option price data
Calibrating trees of alternative state variables
IV Putting the Pieces Together
Forestry management and valuation
Developing a gas field
Mothballing an ethanol plant
Where to from here?
