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Alexander Vollert
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Alexander Vollert: Universität Karlsruhe (TH)

Chapter 1 in A Stochastic Control Framework for Real Options in Strategic Evaluation, 2003, pp 1-5 from Springer

Abstract: Abstract An option is, in essence, the right to choose whether or not to take an action now or at some time in future.1 Broadly speaking, options can be divided into two types: financial options and real options. Financial options are rights to buy, sell, or exchange claims on traded securities, such as stocks and bonds. The Nobel prize winning works of Black/Scholes [27] and Merton [165] have been the basis for an extensive literature in finance, analyzing a growing variety of options and claims on financial securities.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4612-2068-8_1

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DOI: 10.1007/978-1-4612-2068-8_1

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