{"product_id":"9783658074920","title":"BestMasters: The Importance of Stochastic Process Choice in Commodity Price Modelling","description":"\u003ch1\u003eBestMasters: The Importance of Stochastic Process Choice in Commodity Price Modelling\u003c\/h1\u003e \u003ch2\u003eSchöne, Max\u003c\/h2\u003e \u003cp\u003eThe Author shows that modelling the uncertain cash flow dynamics of an investment project deserves careful attention in real options valuation. Focusing on the case of commodity price uncertainty, a broad empirical study reveals that, contrary to common assumptions, prices are often non-stationary and exhibit non-normally distributed returns. Subsequently, more realistic stochastic volatility, jump diffusion, and Lévy processes are evaluated in the context of a stylised investment project. The valuation results suggest that stochastic process choice can have substantial implications for valuation results and optimal investment rules.\u003c\/p\u003e \u003ch3\u003eDetails\u003c\/h3\u003e \u003cp\u003ePublished by: Springer Gabler\u003c\/p\u003e \u003cp\u003ePublication Date: 2014-10-10\u003c\/p\u003e \u003cp\u003eFormat: Paperback\u003c\/p\u003e \u003cp\u003eISBN-13: 9783658074920\u003c\/p\u003e \u003cp\u003eDOI: 10.1007\/978-3-658-07493-7\u003c\/p\u003e \u003cp\u003eDimensions: 210cm x148cm\u003c\/p\u003e \u003cp\u003ePages: 104\u003c\/p\u003e ","brand":"Springer Fachmedien Wiesbaden","offers":[{"title":"Default Title","offer_id":47675017494668,"sku":"9783658074920","price":76.49,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0710\/9545\/1788\/files\/9783658074920.jpg?v=1776539644","url":"https:\/\/fh90cf-fv.myshopify.com\/products\/9783658074920","provider":"Late Knight Books and Services, LLC","version":"1.0","type":"link"}