![]() The methods are analyzed in terms of a simple oilfield salvage option. The former retains the fundamental degrees of freedom of the problem, while the latter combines all uncertainties into a single effective volatility. We then consider two real option methodologies: multi-lattice and consolidated. In this work, we suggest an operational definition of the real option price, and a criterion for deciding whether a given method generates an answer that agrees with this definition. Part of the problem is that, although each proposed method provides an answer (the calculated value), the precise meaning of this value is unclear. ![]() Such reluctance is understandable, as many inconsistencies exist in the various methodologies. However, universal acceptance of this methodology has been elusive or even resisted. Index.Recent years have seen numerous management and petroleum-related articles on the application of financial option techniques to valuation of real assets under uncertainty and operational flexibility. Real Options Analysis Applied to Valuing Start-Up Entities: The Digital News, Inc. More, Faster, Cheaper-The Siren Call of Upstream R&D. CHAPTER 9: REAL OPTIONS ANALYSIS TOOLKIT SOFTWARE FUNCTION DESCRIPTION FOR EXCEL. CHAPTER 7: EXTENDED PROBLEMS: COMBINING FORECASTING, DCF MODELING, REAL OPTIONS, AND OPTIMIZATION. Closed-Form Equations and Binomial Convergence. State-Pricing Approach to Solving a European Option. CHAPTER 4: THE BASICS OF FINANCIAL MODELING. Reports, Presentations, and Update Analysis. Options Analytics, Simulation, and Optimization. Monte Carlo Simulation-DCF Outputs Become Real Options Inputs. Forecast Base-Case Variables for Each Project. Getting Started with Real Options Analysis Toolkit Software. Getting Started with Crystal Ball Software. CHAPTER 2: GETTING STARTED WITH THE SOFTWARE. ![]() Installing Real Options Analysis Toolkit Software. ![]() Installing Crystal Ball Monte Carlo Simulation Software. (Switzerland)ĬHAPTER 1: INSTALLING THE SOFTWARE. Mun’s great skill with this book is in making real options analysis understandable, relevant, and immediately applicable to the field within which you are working."–Robert Fourt, Partner, Gerald Eve (UK)"Mun provides a practical stepbystep guide to applying simulation and real options analysis–invaluable to those of us who are no longer satisfied with conventional valuation approaches alone."–Fred Kohli, Head of Portfolio Management, Syngenta Crop Protection Ltd. Hardy, PhD, Chief Financial Officer & Director of Business Development, Panorama Research, Inc."Most of us come to real options from the perspective of our own areas of expertise. The cases in Real Options Analysis Course provide numerous examples of how the use of real options and the Real Options Analysis Toolkit software can assist in the valuation of strategic and managerial flexibility in a variety of arenas."–Charles T. "This text provides an excellent follow up to Dr. Treharne, President, Gibraltar Business Appraisals, Inc. ![]() After having read the book, readers will better understand the underlying theory and the opportunities for applying real option theory in corporate decisionmaking."–Chris D. More specifically, the Real Options Analysis Course presents numerous real options examples and provides the reader with stepbystep problemsolving techniques. Mun’s latest book is a logical extension of the theory and application presented in Real Options Analysis. Praise for Real Options Analysis Course"Dr. ![]()
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