{ "item_title" : "Real Options Valuation", "item_author" : [" Max Schöne "], "item_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 L vy 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.", "item_img_path" : "https://covers1.booksamillion.com/covers/bam/3/65/807/492/3658074922_b.jpg", "price_data" : { "retail_price" : "84.99", "online_price" : "84.99", "our_price" : "84.99", "club_price" : "84.99", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

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