Research and Development: Valuing the Preliminary Design of a Super-Jumbo Jet at Boeing 5.1 Background: Strategic Thinking and Strategic Investment 5.2 Why the Super-Jumbo-Jet Concept Displayed Negative Static NPV 5.3 The Static NPV of the Investment in Preliminary RECD 5.4 Creation of a Strategy = Creation of an Option 5.5 Valuing the Option 5.6 Postscript 5.7 Two Important Final Points 5.8 Bibliography 6.
#AN APPLIED COURSE IN REAL OPTIONS VALUATION PDF HOW TO#
Modeling Uncertainty and Valuing Flexibility 4.1 How a Binomial Model Approximates a Normal Distribution 4.2 Valuation by Arbitrage and Linear Pricing in the Single-Step Binomial Model 4.3 The Amazing Theory of Risk-Neutral Pricing 4.4 Three Simplified Real-World Examples 4.5 Multistep Binomial Trees 4.6 How to Build Recombinant Binomial Trees 4.7 A Binomial Tree Example 4.8 Bibliography Appendix 4.1 An Alternative Approach to Binomial Trees 248 158 180 198 216 228 238 248 149 146 Appendix 4.2 Another Alternative Approach (This One with Simple Discounting) Appendix 4.3 249 252 Part 4 European-Style Real Options 5. Valuation of Real Assets: What Corporate Finance is All About 3.1 Our Model of the World 3.2 Evaluating a Static Growth Opportunity at the Consulting Firm 3.3 A Delayed Growth Opportunity 3.4 When Do Investors Want Managers to Maximize NPV? 3.5 Two Misconceptions and Why They Are Wrong 3.6 Summary 3.7 Bibliography and Suggested Reading Appendix 3.1 The Underlying Asset and the MAD Assumption (Advanced) Appendix 3.2 Solving for the Tracking Portfolio Holdings 135 132 126 129 131 131 114 121 104 105 93 Part 3 The Binomial Model 4. Valuation of Financial Assets 2.1 Arbitrage and Arbitrage Opportunities 2.2 Our Model Economy 2.3 Valuation by Arbitrage in Our Model Economy 2.4 Valuation of the Index Option (Advanced) 2.5 Summary 2.6 Bibliography Appendix 2.1 Solving for the Tracking Portfolio Holdings 90 81 88 89 58 40 41 44 Appendix 2.2 The Single-Period CAPM in Our Economy 3. Introduction 1.1 Theory Versus Practice 1.2 Two Important Concepts 1.3 Examples of Managers Investing When the Static NPV Is Negative 1.4 Examples of Managers Doing Nothing When the Static NPV Is Positive 1.5 A 50,000-Foot Flyover of Chapters 2 and 3 1.6 Why DCF Is Static 1.7 Chapter Summary 1.8 Bibliography 18 22 27 30 31 5 1 3 3 Part 2 The Theory of Value 2.
Includes bibliographical references and indexĪn Applied Course in Real Options Valuation Table of Contents Preface and User's Guide xiv Part 1 Motivation 1.
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