{"product_id":"discovering-choices-book-anc-al-anon-family-group-head-9780981501734","title":"Discovering Choices","description":"\u003cp\u003eThe Author shows that modelling the uncertain cash flow dynamics of an investment project deserves careful attention in real options valuation. Focusing on the case of commodity price uncertainty, a broad empirical study reveals that, contrary to common assumptions, prices are often non-stationary and exhibit non-normally distributed returns. Subsequently, more realistic stochastic volatility, jump diffusion, and Lévy processes are evaluated in the context of a stylised investment project. The valuation results suggest that stochastic process choice can have substantial implications for valuation results and optimal investment rules. \u003c\/p\u003e\u003cp\u003e \u003cb\u003eContents\u003c\/b\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003e\u003c\/b\u003eEmpirical Analysis of Statistical Commodity Price Properties \u003c\/li\u003e\n\u003cli\u003eStochastic Volatility, Jump Diffusion, and Lévy Processes\u003c\/li\u003e\n\u003cli\u003eReal Options Valuation Using Monte Carlo Simulation and the Longstaff-Schwartz Method\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003cb\u003eTarget Groups\u003c\/b\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\n\u003cb\u003e\u003c\/b\u003eResearchers and students in the field of Finance, Operations Research, and Management\u003c\/li\u003e\n\u003cli\u003eProfessionals in the field of Corporate Finance \/ Operations Research \/ Consulting \u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003cb\u003eThe Author\u003c\/b\u003e\u003c\/p\u003eMax Schöne is a Ph.D. student at the WHU - Otto Beisheim School of Management with a research focus on real options valuation and decision making under uncertainty.","brand":"WoB","offers":[{"title":"US \/ WELL_READ \/ SBYB","offer_id":49525637906705,"sku":"CIN0981501737A","price":5.78,"currency_code":"USD","in_stock":false},{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49575084458257,"sku":"GOR002831252","price":14.99,"currency_code":"USD","in_stock":true},{"title":"GB \/ GOOD \/ INTERNAL","offer_id":49658492813585,"sku":"GOR004348258","price":17.49,"currency_code":"USD","in_stock":false},{"title":"US \/ GOOD \/ SBYB","offer_id":49724867772689,"sku":"CIN0981501737G","price":8.68,"currency_code":"USD","in_stock":true},{"title":"US \/ VERY_GOOD \/ SBYB","offer_id":49949075833105,"sku":"CIN0981501737VG","price":9.18,"currency_code":"USD","in_stock":true},{"title":"GB \/ LIKE_NEW \/ INTERNAL","offer_id":51846714065169,"sku":"GOR012531636","price":13.39,"currency_code":"USD","in_stock":false},{"title":"GB \/ WELL_READ \/ INTERNAL","offer_id":53395987595537,"sku":"GOR005745442","price":10.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0981501737.jpg?v=1751365116","url":"https:\/\/www.worldofbooks.com\/products\/discovering-choices-book-anc-al-anon-family-group-head-9780981501734","provider":"World of Books ","version":"1.0","type":"link"}