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On Application Of Option Pricing Theory To Engineering Economic Decisions Under Uncertainty
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Book Synopsis On Application of Option Pricing Theory to Engineering Economic Decisions Under Uncertainty by : Hemantha Sirimewan Bandara Herath
Download or read book On Application of Option Pricing Theory to Engineering Economic Decisions Under Uncertainty written by Hemantha Sirimewan Bandara Herath and published by . This book was released on 1998 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Investment under Uncertainty by : Robert K. Dixit
Download or read book Investment under Uncertainty written by Robert K. Dixit and published by Princeton University Press. This book was released on 2012-07-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Book Synopsis Option Pricing by : Menachem Brenner
Download or read book Option Pricing written by Menachem Brenner and published by Free Press. This book was released on 1983 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Advanced Engineering Economics by : Chan S. Park
Download or read book Advanced Engineering Economics written by Chan S. Park and published by John Wiley & Sons. This book was released on 2021-06-02 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advanced Engineering Economics, Second Edition, provides an integrated framework for understanding and applying project evaluation and selection concepts that are critical to making informed individual, corporate, and public investment decisions. Grounded in the foundational principles of economic analysis, this well-regarded reference describes a comprehensive range of central topics, from basic concepts such as accounting income and cash flow, to more advanced techniques including deterministic capital budgeting, risk simulation, and decision tree analysis. Fully updated throughout, the second edition retains the structure of its previous iteration, covering basic economic concepts and techniques, deterministic and stochastic analysis, and special topics in engineering economics analysis. New and expanded chapters examine the use of transform techniques in cash flow modeling, procedures for replacement analysis, the evaluation of public investments, corporate taxation, utility theory, and more. Now available as interactive eBook, this classic volume is essential reading for both students and practitioners in fields including engineering, business and economics, operations research, and systems analysis.
Book Synopsis Fuzzy Engineering Economics with Applications by : Cengiz Kahraman
Download or read book Fuzzy Engineering Economics with Applications written by Cengiz Kahraman and published by Springer. This book was released on 2008-09-20 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Fuzzy set approaches are suitable to use when the modeling of human knowledge is necessary and when human evaluations are needed. Fuzzy set theory is recognized as an important problem modeling and solution technique. It has been studied ext- sively over the past 40 years. Most of the early interest in fuzzy set theory pertained to representing uncertainty in human cognitive processes. Fuzzy set theory is now - plied to problems in engineering, business, medical and related health sciences, and the natural sciences. This book handles the fuzzy cases of classical engineering e- nomics topics. It contains 15 original research and application chapters including different topics of fuzzy engineering economics. When no probabilities are available for states of nature, decisions are given under uncertainty. Fuzzy sets are a good tool for the operation research analyst facing unc- tainty and subjectivity. The main purpose of the first chapter is to present the role and importance of fuzzy sets in the economic decision making problem with the literature review of the most recent advances.
Book Synopsis University of Michigan Official Publication by : University of Michigan
Download or read book University of Michigan Official Publication written by University of Michigan and published by UM Libraries. This book was released on 1993 with total page 822 pages. Available in PDF, EPUB and Kindle. Book excerpt: Each number is the catalogue of a specific school or college of the University.
Book Synopsis Constructing a Positive Shock: Growth Through the Lens of Option Pricing by : Mehmet Cangul
Download or read book Constructing a Positive Shock: Growth Through the Lens of Option Pricing written by Mehmet Cangul and published by International Monetary Fund. This book was released on 2023-07-28 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Low-income economies face negative shocks whose frequency and disproportionate impact overcome growth trajectories, producing a negative drift. COVID-19 was the latest such episode. To escape this negative drift, and build a durable recovery, there is a need for a counter-balancing force: to construct a positive shock. Growth is realized through decisions that fall under two categories, routine and non-linear. While routine decisions modify existing economic behavior along the same path, non-linear decisions describe riskier options that involve transformation. Option pricing theory can be useful to describe the latter, and construct the positive shock required to escape the negative drift.
Book Synopsis Real Options Analysis by : Johnathan Mun
Download or read book Real Options Analysis written by Johnathan Mun and published by John Wiley & Sons. This book was released on 2012-07-02 with total page 603 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Mun demystifies real options analysis and delivers a powerful, pragmatic guide for decision-makers and practitioners alike. Finally, there is a book that equips professionals to easily recognize, value, and seize real options in the world around them." --Jim Schreckengast, Senior VP, R&D Strategy, Gemplus International SA, France Completely revised and updated to meet the challenges of today's dynamic business environment, Real Options Analysis, Second Edition offers you a fresh look at evaluating capital investment strategies by taking the strategic decision-making process into consideration. This comprehensive guide provides both a qualitative and quantitative description of real options; the methods used in solving real options; why and when they are used; and the applicability of these methods in decision making.
Book Synopsis Vinzenz Bronzin's Option Pricing Models by : Wolfgang Hafner
Download or read book Vinzenz Bronzin's Option Pricing Models written by Wolfgang Hafner and published by Springer Science & Business Media. This book was released on 2009-11-18 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 1908, Vinzenz Bronzin, a professor of mathematics at the Accademia di Commercio e Nautica in Trieste, published a booklet in German entitled Theorie der Prämiengeschäfte (Theory of Premium Contracts) which is an old type of option contract. Almost like Bachelier’s now famous dissertation (1900), the work seems to have been forgotten shortly after it was published. However, almost every element of modern option pricing can be found in Bronzin’s book. He derives option prices for an illustrative set of distributions, including the Normal. - This volume includes a reprint of the original German text, a translation, as well as an appreciation of Bronzin's work from various perspectives (economics, history of finance, sociology, economic history) including some details about the professional life and circumstances of the author. The book brings Bronzin's early work to light again and adds an almost forgotten piece of research to the theory of option pricing.
Book Synopsis College of Engineering by : University of Michigan. College of Engineering
Download or read book College of Engineering written by University of Michigan. College of Engineering and published by UM Libraries. This book was released on 1995 with total page 502 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Engineering Economics for Aviation and Aerospace by : Bijan Vasigh
Download or read book Engineering Economics for Aviation and Aerospace written by Bijan Vasigh and published by Routledge. This book was released on 2016-12-08 with total page 712 pages. Available in PDF, EPUB and Kindle. Book excerpt: For all engineers and practitioners, it is essential to have a fundamental understanding of cost structure, estimating cash flows, and evaluating alternative projects and designs on an economic basis. Engineering Economics for Aviation and Aerospace provides the tools and techniques necessary for engineers to economically evaluate their projects and choices. The focus of this book is on a comprehensive understanding of the theory and practical applications of engineering economics. It explains and demonstrates the principles and techniques of engineering economics and financial analysis as applied to the aviation and aerospace industries. Time value of money, interest factors, and spreadsheet functions are used to evaluate the cash flows associated with a single project or multiple projects. The alternative engineering economics tools and techniques are utilized in separate chapters to evaluate the attractiveness of a single project or to select the best of multiple alternatives. Most of the engineering economics and financial mathematics books available in the market take either a pure theoretical approach or offer limited applications. This book incorporates both approaches, providing students of aviation and industrial economics, as well as practitioners, with the necessary mathematical knowledge to evaluate alternatives on an economic basis.
Book Synopsis Handbooks in Operations Research and Management Science: Financial Engineering by : John R. Birge
Download or read book Handbooks in Operations Research and Management Science: Financial Engineering written by John R. Birge and published by Elsevier. This book was released on 2007-11-16 with total page 1026 pages. Available in PDF, EPUB and Kindle. Book excerpt: The remarkable growth of financial markets over the past decades has been accompanied by an equally remarkable explosion in financial engineering, the interdisciplinary field focusing on applications of mathematical and statistical modeling and computational technology to problems in the financial services industry. The goals of financial engineering research are to develop empirically realistic stochastic models describing dynamics of financial risk variables, such as asset prices, foreign exchange rates, and interest rates, and to develop analytical, computational and statistical methods and tools to implement the models and employ them to design and evaluate financial products and processes to manage risk and to meet financial goals. This handbook describes the latest developments in this rapidly evolving field in the areas of modeling and pricing financial derivatives, building models of interest rates and credit risk, pricing and hedging in incomplete markets, risk management, and portfolio optimization. Leading researchers in each of these areas provide their perspective on the state of the art in terms of analysis, computation, and practical relevance. The authors describe essential results to date, fundamental methods and tools, as well as new views of the existing literature, opportunities, and challenges for future research.
Book Synopsis Economic and Financial Decisions under Risk by : Louis Eeckhoudt
Download or read book Economic and Financial Decisions under Risk written by Louis Eeckhoudt and published by Princeton University Press. This book was released on 2011-10-30 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire, risk is something that can be recognized, quantified, analyzed, treated--and incorporated into our decision-making processes. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require. Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.
Book Synopsis Computational Intelligence for Modelling, Control & Automation by : Masoud Mohammadian
Download or read book Computational Intelligence for Modelling, Control & Automation written by Masoud Mohammadian and published by IOS Press. This book was released on 1999 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume is dedicated to the theory and applications of Computational Intelligence techniques for Intelligent Image Processing, Data Analysis and Information Retrieval. It consists of 52 accepted research papers from the 1999 International Conference on Computational Intelligence for Modeling, Control and Automation - CIMCA'99. The goal of this conference was to provide a medium for the exchange of ideas between theoreticians and practitioners to address the important issues in computational intelligence for modelling, control and automation. The research papers presented in this book cover new techniques and applications in the of Image Processing, Computer Vision, Multimedia Systems, Filtering, Classification, Data Analysis, Prediction, Intelligent Database and Information Retrievals.
Book Synopsis Real Options Analysis by : Johnathan Mun
Download or read book Real Options Analysis written by Johnathan Mun and published by John Wiley & Sons. This book was released on 2003-01-07 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cutting-edge information on the valuation and application of real options Most investors and risk managers are familiar with financial options. But the real option structure is embedded in billions of dollars of stocks traded every day, and in billions of dollars of strategic or investment decisions made by many companies. Real options are a useful tool to guide a firm's strategic planning, and can create or enhance a firm's value. Real Options Analysis provides a revolutionary approach to evaluating and valuing capital investment strategies by taking into consideration the real options inherent in the strategic decision-making process. This book provides readers with a qualitative and quantitative description of real options, the methods used in solving real options, why and when they are used, and the applicability of these methods in decision-making. In addition, multiple business cases and real-life scenarios are discussed. This includes presenting and framing the problems, as well as the introduction of a stepwise quantitative process developed by the author for solving these problems using the different methodologies inherent in real options-with the assistance of Real Options software powered by Crystal Ball(TM), which is included on the companion CD-ROM. With technical presentations of models and approaches backed by theoretical and mathematical justifications, Real Options Analysis is one of the most comprehensive guides available on real options.
Book Synopsis Introduction to the Economics of Financial Markets by : James Bradfield
Download or read book Introduction to the Economics of Financial Markets written by James Bradfield and published by OUP USA. This book was released on 2007-02-08 with total page 508 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are many textbooks for business students that provide a systematic, introductory development of the economics of financial markets. However, there are as yet no introductory textbooks aimed at more easily daunted undergraduate liberal arts students. Introduction to the Economics of Financial Markets fills this gap by providing an extremely accessible introductory exposition of how economists analyze both how, and how well, financial markets organize the intertemporal allocation of scarce resources. The central theme is that the function of a system of financial markets is to enable consumers, investors, and managers of firms to effect mutually beneficial intertemporal exchanges. James Bradfield uses the standard concept of economic efficiency (Pareto Optimality) to assess the efficacy of the financial markets. He presents an intuitive, and introductory, understanding of the primary theoretical and empirical models that economists use to analyze financial markets, and then uses these models to discuss implications for public policy. Students who use this text will acquire an understanding of the economics of financial markets that will enable them to read, with some sophistication, articles in the public press about financial markets and about public policy toward those markets. The book is addressed to undergraduate students in the liberal arts, but will also be useful for undergraduate and beginning graduate students in programs of business administration who want an understanding of how economists assess financial markets against the criteria of allocative and informational efficiency.
Book Synopsis Decision Making under Deep Uncertainty by : Vincent A. W. J. Marchau
Download or read book Decision Making under Deep Uncertainty written by Vincent A. W. J. Marchau and published by Springer. This book was released on 2019-04-04 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This open access book focuses on both the theory and practice associated with the tools and approaches for decisionmaking in the face of deep uncertainty. It explores approaches and tools supporting the design of strategic plans under deep uncertainty, and their testing in the real world, including barriers and enablers for their use in practice. The book broadens traditional approaches and tools to include the analysis of actors and networks related to the problem at hand. It also shows how lessons learned in the application process can be used to improve the approaches and tools used in the design process. The book offers guidance in identifying and applying appropriate approaches and tools to design plans, as well as advice on implementing these plans in the real world. For decisionmakers and practitioners, the book includes realistic examples and practical guidelines that should help them understand what decisionmaking under deep uncertainty is and how it may be of assistance to them. Decision Making under Deep Uncertainty: From Theory to Practice is divided into four parts. Part I presents five approaches for designing strategic plans under deep uncertainty: Robust Decision Making, Dynamic Adaptive Planning, Dynamic Adaptive Policy Pathways, Info-Gap Decision Theory, and Engineering Options Analysis. Each approach is worked out in terms of its theoretical foundations, methodological steps to follow when using the approach, latest methodological insights, and challenges for improvement. In Part II, applications of each of these approaches are presented. Based on recent case studies, the practical implications of applying each approach are discussed in depth. Part III focuses on using the approaches and tools in real-world contexts, based on insights from real-world cases. Part IV contains conclusions and a synthesis of the lessons that can be drawn for designing, applying, and implementing strategic plans under deep uncertainty, as well as recommendations for future work. The publication of this book has been funded by the Radboud University, the RAND Corporation, Delft University of Technology, and Deltares.
