{"product_id":"a-stochastic-control-framework-for-real-options-in-strategic-evaluation-von-alexander-vollert","title":"A Stochastic Control Framework for Real Options in Strategic Evaluation","description":"The theoretical foundation for real options goes back to the mid 1980s \nand the development of a model that forms the basis for many current \napplications of real option theory. Over the last decade the theory \nhas rapidly expanded and become enriched thanks to increasing research \nactivity. Modern real option theory may be used for the valuation of \nentire companies as well as for particular investment projects in the \npresence of uncertainty. As such, the theory of real options can serve \nas a tool for more practically oriented decision making, providing \nmanagement with strategies maximizing its capital market value. \nThis book is devoted to examining a new framework for classifying real \noptions from a management and a valuation perspective, giving the \nadvantages and disadvantages of the real option approach. Impulse \ncontrol theory and the theory of optimal stopping combined with \nmethods of mathematical finance are used to construct arbitrarily \ncomplex real option models which can be solved numerically and which \nyield optimal capital market strategies and values. Various examples \nare given to demonstrate the potential of this framework. \nThis work will benefit the financial community, companies, as well as \nacademics in mathematical finance by providing an important extension \nof real option research from both a theoretical and practical point of \nview.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9781461274018\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9781461274018","offer_id":39416869388381,"sku":"9781461274018","price":53.49,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/527179e3-b0da-4438-b431-83f76f0bb87b.jpg?v=1772083652","url":"https:\/\/shop.autorenwelt.de\/products\/a-stochastic-control-framework-for-real-options-in-strategic-evaluation-von-alexander-vollert","provider":"Autorenwelt Shop","version":"1.0","type":"link"}