A Game Theory Analysis of Options : Contributions to the Theory of Financial Intermediation in Continuous Time
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Lieferung aus: Deutschland, Lagernd.
Modem option pricing theory was developed in the late sixties and early seventies by F. Black, R. C. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. However, 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 corporate 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, virtually no attempt has 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 continuous time models and the closed form valuation models for derivatives, Dr. eBook.

Lieferung aus: Deutschland, Versandkostenfrei.
Game Theory Analysis of Options: Modem option pricing theory was developed in the late sixties and early seventies by F. Black, R. C. Merton and M. Scholes as an analytical tool for pricing and hedging option contracts and over-the-counter warrants. However, 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 corporate 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, virtually no attempt has 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 continuous time models and the closed form valuation models for derivatives, Dr. Englisch, Ebook.

Lieferung aus: Vereinigte Staaten von Amerika, Lagernd, zzgl. Versandkosten.
Finance/Investment/Banking, This book presents a method that combines game theory and option pricing in order to analyze dynamic multiperson decision problems in continuous time and under uncertainty. The basic intuition of the method is to separate the problem of the valuation of payoffs from the analysis of strategic interactions. Whereas the former is to be handled using option pricing, the latter can be addressed by game theory. The text shows how both instruments can be combined and how game theory can be applied to complex problems of corporate finance and financial intermediation. Besides providing theoretical foundations and serving as a guide to stochastic game theory modeling in continuous time, the text contains numerous examples from the theory of corporate finance and financial intermediation. By combining arbitrage-free valuation techniques with strategic analysis, the game theory analysis of options actually provides the link between markets and organizations.

Lieferung aus: Vereinigtes Königreich Grossbritannien und Nordirland, Usually dispatched within 1-2 business days.
Von Händler/Antiquariat, jasonisherwood.
Paperback, Label: Springer-Verlag Berlin and Heidelberg GmbH & Co. K, Springer-Verlag Berlin and Heidelberg GmbH & Co. K, Produktgruppe: Book, Publiziert: 1999-04-29, Studio: Springer-Verlag Berlin and Heidelberg GmbH & Co. K, Verkaufsrang: 6414526.

Lieferung aus: Deutschland, zzgl. Versandkosten.
Von Händler/Antiquariat, Wissenschaftliches Antiquariat Heinz Buschulte.
XIV, 145 S. : graph. Darst. , 24 cm, kart.

Lieferung aus: Deutschland, Versandart: STD, Versand nach: DE.
Von Händler/Antiquariat, Wissenschaftliches Antiquariat Heinz Buschulte, [2643].
Verlagsfrisch verschweisst ! XIV, 145 S. : graph. Darst. , 24 cm, kart.

Von Händler/Antiquariat, Mosakowski & Stiasny GbR [51070922], Florstadt, D, Germany.
145 Seiten pp. ex Library Book / aus einer wissenschaftlichen Bibliothek Sprache: en Gewicht in Gramm: 250.

Von Händler/Antiquariat, Mosakowski & Stiasny GbR [51070922], Florstadt, Germany.
145 Seiten ex Library Book / aus einer wissenschaftlichen Bibliothek Sprache: en Gewicht in Gramm: 250.

Mosakowski & Stiasny GbR, [3737242].
145 Seiten Taschenbuchex Library Book / aus einer wissenschaftlichen Bibliothek.

Lieferung aus: Vereinigte Staaten von Amerika, Lagernd.
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