The evaluation of mining and other natural resource projects is made particularly difficult by
the high degree of uncertainty attaching to output prices. It is shown that the techniques of …

Based on courses developed by the author over several years, this book provides access to
a broad area of research that is not available in separate articles or books of readings …

This paper provides analytical formulas for European put and call options on the minimum or
the maximum of two risky assets. The properties of these formulas are discussed in detail …

Real options in capital investment Page 2 Real Options in Capital Investment Page 3 This
page intentionally left blank Page 4 Real Options in Capital Investment Models, Strategies …

The term structure of interest rates is an important subject to economists, and has a long
history of traditions. This paper re‐examines many of these traditional hypotheses while …

This paper analyzes the market for financial assets in a production and exchange economy
with several realized outputs and a single unobservable source of nondiversifiable risk. The …

Water is increasingly recognized as a commodity in its own right, as evidenced by the
launching in 2006 of the first water index, World Water Index or WOWAX. For a number of …

The author develops a simple rule for discounting cash flows when the simple capital asset
pricing model holds in every period, and when an investment's cash flows are linear in each …

ABSTRACT A mean‐variance risk‐return tradeoff relationship is derived for the diffusion
process limiting case of a state‐preference model, with aggregate consumption serving as a …

To the student education provides options. In practice, premature commitment to a specific
occupation or career can be costly. Also, at an early age an individual is often uncertain …