Valuing modularity as a real option

Andrea Gamba; Nicola Fusari

We provide a general valuation approach for capital budgeting decisions involving the modularization of a system. Within the framework developed by Baldwin and Clark (2000), we implement an approach using a numerical procedure based on the Least Squares Monte Carlo method proposed by Longstaﬀ and Schwartz (2001). The approach is accurate, general and flexible

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Year of publication:	2009
Authors:	Gamba, Andrea ; Fusari, Nicola
Publisher:	Genève : Swiss Finance Inst.
Subject:	Realoptionsansatz \| Real options analysis \| Simulation \| Kleinste-Quadrate-Methode \| Least squares method \| Monte-Carlo-Simulation \| Monte Carlo simulation \| Optionspreistheorie \| Option pricing theory \| Theorie \| Theory

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Extent:	Online-Ressource (PDF-Datei: 51 S.) graph. Darst.
Series:	Research paper series / Swiss Finance Institute. - Geneva, ZDB-ID 2392286-2. - Vol. 08,20
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Classification:	G12 - Asset Pricing ; G31 - Capital Budgeting; Investment Policy
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003962024