Is Reality Optional

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Is Reality Optional

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Author : Thomas Sowell
language : en
Publisher:
Release Date : 1993

Is Reality Optional written by Thomas Sowell and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Civilization, Modern categories.

Is Reality Optional

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Author : Thomas Sowell
language : en
Publisher: Hoover Press
Release Date : 2020-06-19

Is Reality Optional written by Thomas Sowell and has been published by Hoover Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-19 with Political Science categories.

Sowell challenges all the assumptions of contemporary liberalism on issues ranging from the economy to race to education in this collection of controversial essays, and captures his thoughts on politics, race, and common sense with a section at the end for thought-provoking quotes.

Applied Real Option Valuation

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Author : Kaveh Sheibani
language : en
Publisher: ORLAB Analytics
Release Date : 2010-06-30

Applied Real Option Valuation written by Kaveh Sheibani and has been published by ORLAB Analytics this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-06-30 with Business & Economics categories.

Supporting investment profitability analysis and decision-making with real option analysis is an issue of increasing interest among both practitioners and managers. This special issue of the Journal of Applied Operational Research (JAOR) presents some new progress in applying real option analysis and valuation to real world problems in a number of industries.

Real Option Valuation Of Product Innovation

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Author : Yuanyun Kang
language : en
Publisher: diplom.de
Release Date : 2009-01-12

Real Option Valuation Of Product Innovation written by Yuanyun Kang and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-12 with Business & Economics categories.

Inhaltsangabe:Abstract: Global competition, emerging technologies, and an ever increasing need for superior products in shorter time frames all contribute to drive companies to adopt new and innovative approaches to product innovation. Effective product innovation is imperative for the survival, growth and profitability of most design and manufacturing enterprises. In the current dynamic manufacturing environment, companies must innovate successfully if they wish to remain competitive. Product innovation is a complex, cross-functional and contingent, dynamic process, which is difficult to manage. Anticipating change and expeditiously responding to the dynamics of the business environment via product innovation are important precursors for achieving sustainable competitive positions and exceptional performance. The heart of a product innovation is its value. Traditional discounted cash flow approaches, such as net present value (NPV), have traditionally been the preferred methods for evaluating investments in product innovation. The traditional NPV method, which was initially developed to value bonds or stocks by passive investors, implicitly assumes that corporations hold a collection of real assets passively. Managerial choices (as delay, expand, switching etc.) are thus presumed to be limited to the initial decision. Therefore, traditional valuation methods undervalue the product innovation because they are unable to capture the value of management flexibility. Recently, real options emerged as an alternative to simplistic discounted cash flow methods. Real option valuation (ROV) values the managerial flexibility to make ongoing decisions regarding implementation of investment projects and deployment of real assets. ROV extends valuation models used to price financial options and applies them to investments in real assets. Black and Scholes developed the Black-Scholes model to value financial options that focus on factors affecting the value of the underlying financial asset over time. Proof by Cox, Ross, Rubinstein (1979), binomial tree model is simpler to understand for the practitioner and less elegant than Black-Scholes model. It uses the discrete mathematics to achieve the isomorphic results to the calculation used by Black-Scholes model. From an intuition point of view, the managerial flexibility is easy to understand. But, how much it is worth is most difficult or even impossible to think about and measure with the traditional [...]

Real Option Based Appraisal Of Environmental Investments An Assessment Of No Emission Control Techniques In Large Combustion Plants

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Author : Schiel, Carmen
language : en
Publisher: KIT Scientific Publishing
Release Date : 2019-06-27

Real Option Based Appraisal Of Environmental Investments An Assessment Of No Emission Control Techniques In Large Combustion Plants written by Schiel, Carmen and has been published by KIT Scientific Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-27 with Business & Economics categories.

Debtor Non Participation In Sovereign Debt Relief A Real Option Approach

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Author : Danny Cassimon
language : en
Publisher: International Monetary Fund
Release Date : 2023-09-08

Debtor Non Participation In Sovereign Debt Relief A Real Option Approach written by Danny Cassimon and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-09-08 with Business & Economics categories.

Developing countries have recently proved reluctant to participate in sovereign debt moratoria and debt relief initiatives. We argue that debtors' (non-)participation decisions can be understood through the lens of real options. Eligible countries compare the net benefits of participating in a debt relief initiative now with the value of waiting to potentially execute their participation option later, when they may have more information on the benefits and costs. We corroborate the real option framing with anecdotal evidence and through a survival analysis that exploits cross-country and time variation in the requests to participate in the Debt Service Suspension Initiative (DSSI), which provided temporary debt moratoria during the COVID-19 pandemic. Structured along the policy levers suggested by the real option framework, we discuss a number of ways in which participation in debt relief initiatives can be made more attractive to debtor countries.

Mergers Acquisitions A Real Option Valuation Approach Of Investment Decision Under Uncertainty

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Author : Marc Zajicek
language : en
Publisher: diplom.de
Release Date : 2004-01-06

Mergers Acquisitions A Real Option Valuation Approach Of Investment Decision Under Uncertainty written by Marc Zajicek and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-01-06 with Business & Economics categories.

Inhaltsangabe:Abstract: The objective of this dissertation is to examine the application of Real Options for the evaluation of companies with regard to acquisitions. There has been an intensive scientific discussion in the past years about the Real Options method for the evaluation of investments and mergers & acquisitions as in practice usually the management tries to capture future developments with static methods of capital budgeting. For example, future cash-flows are discounted with a fixed risk-adjusted discount rate. Therefore, the Real Options approach has been applied very rarely as it has the reputation of high complexity and poor practicability in daily business. However, the use of present values and capitalized values may produce pitfalls in acquisition decisions as strategic investment decisions might be characterized by a wide range of possibilities to react flexibly to a fast changing environment. In chapter 1, the term Mergers & Acquisitions (M&A) is defined and the motives as well as the relevance of M&A transactions for different branches are described in detail. Furthermore, the process and the different phases of a merger or an acquisition are explained. Chapter 2 presents traditional evaluation methods of static net present value, sensitivity analysis, Monte Carlo and decision tree. These classic methods are discussed and a comparison is drawn among these techniques in regard to practicability. At the end of this chapter, a evaluation is presented in regard to specific situations with the mayor parameter of uncertainty and flexibility for the application of these classic methods. The basic concept of option pricing is described in chapter 3. In addition, the Black-Scholes equation and the underlying assumptions are explained in detail in order to understand financial options, which are the basic for the Real Options approach. At the end of the chapter, an example of a call and put option is discussed in order to understand the functioning of options. Chapter 4 presents an introduction and definition of the Real Options method. Furthermore, the value drivers and the value creation due to the application of Real Options are discussed and analyzed in detail. After the discussion of the functioning of Real Options, a comparison of the analogy between financial Options and Real Options is done in order to possible differences. In this context, the limitations of the analogy of financial and Real Options are presented. Finally, [...]

Real Option Analysis And Climate Change

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Author : Benoit Morel
language : en
Publisher: Springer
Release Date : 2019-06-12

Real Option Analysis And Climate Change written by Benoit Morel and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-12 with Business & Economics categories.

This book sets out to reframe the theory of real options so that it can be used to support environmental investments for climate change adaptation and mitigation. Climate change policy often involves making decisions that concern extended time periods, and doing so under considerable uncertainty. By expanding and broadening the framework of real options, this book first introduces readers to new ways of quantifying investment decisions that can much more effectively address the shape and size of the uncertainty than traditional approaches using Net Present Value. In turn, the second part of the book applies this new theoretical framework to climate change policy by presenting a number of examples, and by providing a general perspective on investment decisions related to climate change and how to prioritize them.

The Solicitors Journal And Reporter

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Author :
language : en
Publisher:
Release Date : 1883

The Solicitors Journal And Reporter written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1883 with Law categories.

Reality And Its Order

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Author : Werner Heisenberg
language : en
Publisher: Springer Nature
Release Date : 2019-11-30

Reality And Its Order written by Werner Heisenberg and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-11-30 with Science categories.

Available here for the first time in English, "Reality and Its Order" is a remarkable philosophical text by Werner Heisenberg, the father of quantum mechanics and one of the leading scientists of the 20th century. Written during the wartime years and initially distributed only to his family and trusted friends, the essay describes Heisenberg’s philosophical view of how we understand the natural world and our role within it. In this volume, the essay is introduced by the physicist Helmut Rechenberg and annotated by the science historian Ernst Peter Fischer. The content, particularly within its historical context, will be of great interest to many physicists, philosophers and historians of science.