{"product_id":"real-options-valuation-von-max-schone","title":"Real Options Valuation","description":"The 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.\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783658074920\"\u003e\u003ch3\u003eThe Importance of Stochastic Process Choice in Commodity Price Modelling\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783658074920","offer_id":40861987536989,"sku":"9783658074920","price":80.24,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/38ce53af-dc35-4edd-ac48-f5e2c5d79b63.jpg?v=1775708096","url":"https:\/\/shop.autorenwelt.de\/products\/real-options-valuation-von-max-schone","provider":"Autorenwelt Shop","version":"1.0","type":"link"}