affine models both in terms of fitting return and in terms of option valuation. For the affine models we find strong evidence … strong in option valuation. The evidence in favor of the non-normal models is strong when fitting daily returns, but the non … model’s ability fit daily equity return dynamics. Using the risk-neutralization in Duan (1995), we assess the option …

has made real options a growing field of academic research and practical application. Real option valuation is, however … modeling and analysis methods have made real option valuation easier to understand and to implement. This paper presents a new … method (fuzzy pay-off method) for real option valuation using fuzzy numbers that is based on findings from earlier real …