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Modern option pricing theory was developed in the late sixties and early seventies by F. Black, R. e. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. How- ever, already in the seminal paper by Black and Scholes, the applicability of the model was regarded as much broader. In the second part of their paper, the authors demonstrated that a levered firm's equity can be regarded as an option on the value of the firm, and thus can be priced by option valuation techniques. A year later, Merton showed how the default risk structure of cor- porate bonds can be determined by option pricing techniques. Option pricing models are now used to price virtually the full range of financial instruments and financial guarantees such as deposit insurance and collateral, and to quantify the associated risks. Over the years, option pricing has evolved from a set of specific models to a general analytical framework for analyzing the production process of financial contracts and their function in the financial intermediation process in a continuous time framework. However, very few attempts have been made in the literature to integrate game theory aspects, i. e. strategic financial decisions of the agents, into the continuous time framework. This is the unique contribution of the thesis of Dr. Alexandre Ziegler. Benefiting from the analytical tractability of contin- uous time models and the closed form valuation models for derivatives, Dr.
Aimed at practitioners with no prior expertise in the subject, this book helps readers build basic real options models to aid in decision-making. Providing a pragmatic and informative approach, the authors introduce basic probability theories, before putting these theories into a real-world context.
"Aging Parents & Options In Living Arrangements-How To Make The Right Decisions When In Crisis Mode" Are You Caring For Aging Parents? Are you a member of the "Sandwich" generation? How do you care for your children and your parents or grandparents at the same time? It's a challenge millions of people are currently facing. The majority of people wait until they are in crisis when reacting to the declining health of their loved ones. If you have any future concerns, or if you're waiting to "cross that bridge when you come to it," this is the book for you Make the best choices during this stressful time A Step-By-Step, Easy-To-Use Manual Including Forms: Assessment Checklist-A detailed checklist to assess physical, emotional and medical needs Medication Log Sheet-Keep track of their medications Financial Assessment Worksheet-Figure out what type of care can be afforded Adult Living Evaluation Form-Assess facilities and make notations on your visits Delicately Deal With Their Resistance To Change: How to take away the car keys, when they don't want help but you know they need it, etc. Simple Steps For: Considering Options Available Questions to Ask Where to Find Facilities & Types of Care Plus, information on Security and Medical Devices, Prescription Savings, and more.
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