By T. Arnold
Aimed at practitioners with no previous services within the subject, this book helps readers build easy actual techniques versions to help in decision-making. Providing a pragmatic and informative method, the authors introduce simple likelihood theories, before placing those theories right into a real-world context.
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Extra info for A Pragmatic Guide to Real Options
The short position’s value decreases possibly to a loss if the option is in-the-money and exercised. In real option analysis, determining whether the real option is similar to a call or a put is not of real importance except for understanding the academic literature concerning real option analysis. , pay the strike price to buy the underlying security/opportunity that has a spot price higher than the strike price). A real option is similar to 36 A Pr agmatic Guide to Real Op tions a put option if money can be received by selling an opportunity at a prespecified price when the value of the opportunity is below the prespecified price.
Often, the square root of the variance is taken as a similar measure for determining how good of a predictor the mean is of future events. 005 The variance and the standard deviation measure “risk” or “uncertainty” about the mean as a predictor of the future. Some will consider risk and uncertainty to be different, but such a difference is not an issue in this text. Just as the mean or expected value is critical for determining the value of a real option, the risk (generally measured as a standard deviation) will also play a role in determining the value of a real option.
4). 7 24 A Pr agmatic Guide to Real Op tions a very unsatisfactory measure of how “incorrect” the mean is relative to actual outcomes. , square the deviation from mean) before calculating the mean. ” The larger the variance, the more suspect the mean as a predictor of future events. Often, the square root of the variance is taken as a similar measure for determining how good of a predictor the mean is of future events. 005 The variance and the standard deviation measure “risk” or “uncertainty” about the mean as a predictor of the future.