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Decision Analysis and Real Options: A Discrete Time Approach to Real Option Valuation
Annals of Operations Research, 2005zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Brandão, Luiz E., Dyer, James S.
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SSRN Electronic Journal, 2004
AbstractCash Flow from operations can be controlled using real options. In this normative paper, we quantify Trigeorgis's intuition[Trigeorgis, L., 1996. Real options: Managerial flexibility and strategy in resource allocation. Cambridge, MA: MIT Press](p 123), about the risk management properties of real options with respect to downside risk.
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AbstractCash Flow from operations can be controlled using real options. In this normative paper, we quantify Trigeorgis's intuition[Trigeorgis, L., 1996. Real options: Managerial flexibility and strategy in resource allocation. Cambridge, MA: MIT Press](p 123), about the risk management properties of real options with respect to downside risk.
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Real options analysis for smart grid
Proceedings of the 16th Annual International Conference on Digital Government Research, 2015Smart cities depend on smart grid for resilient energy delivery and improved energy efficiencies. This paper employs the real option approach (ROA) to study the investment decision of information technology innovation in the case of smart grid adoption under uncertainty.
Shu Feng, Jing Zhang, Yue Gao
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Evaluating Real Estate Development Using Real Options Analysis
SSRN Electronic Journal, 2009This paper uses an example involving a commercial real estate project to demonstrate the practical application of real options analysis. The approach described can be used to value the project at any stage of construction, which is especially useful when market conditions are poor and suspension of many partly-completed projects is being considered. It
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Hostile takeovers or friendly mergers? Real options analysis
Journal of Corporate Finance, 2019This study analyzes a real options model of mergers and takeovers between two firms facing different but correlated uncertainty in profits. It is assumed that firms can choose two alternatives; hostile takeover or friendly merger. In a hostile takeover, a bidder firm takes all the extra value but incurs takeover costs, while in a friendly merger, both ...
Takeshi Ebina +2 more
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Real option analysis of a technology portfolio
Review of Financial Economics, 2006AbstractThis article contributes to methodology of real options analysis of investments in capital intensive process industries, where relatively homogenous outputs are produced using commonly known production technologies. In addition to capacity expansion, the method can be used for analysis of mergers and acquisitions.
Petri Hilli +2 more
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Cut-off grade: A real options analysis
Resources Policy, 2014Abstract In this paper we examine the impact of forward price uncertainty on the optimal cut-off policy of mines. We employ a new real options model for determining the optimal cut-off grade of ore under stochastic prices. The economic insights and consequences of incorporating uncertainty into the cut-off decision making process are shown to be in ...
Matt Thompson, Drew Barr
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Customer lifetime valuation using real options analysis
Journal of Marketing Analytics, 2015As the concept of Customer Lifetime Value (CLV) is gaining a growing acceptance to achieve superior efficiency and effectiveness of marketing plans, development of more accurate models to measure CLV is becoming an important issue. Most CLV models cannot consider the management flexibility in uncertain situations. Real options valuation is the approach
Hamidreza Koosha, Amir Albadvi
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Introducing a Real Option Framework for EVA/MVA Analysis
SSRN Electronic Journal, 2020For the first time, a framework is introduced that allows for a real options analysis to be performed in an EVA/MVA-embedded binomial tree. This framework enhances traditional EVA/MVA analysis so that it can capture the additional value generated through strategic decision making during a project’s life.
Tom Arnold +3 more
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Introduction to Real Options Analysis
2016This chapter provides an introduction to the real options way of thinking. The valuation methods of real options are based on the option pricing theory for financial securities. Therefore in the first part of this chapter the basic concepts of financial options will be discussed.
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