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A study of the oil industry in its modern development from the 1850s to 1973. During this period the industry underwent significant changes in terms of its productive expansion, the diversity of its products, its role in general production, its corporate organisation and in terms of its...
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motion (GBM) process. That is, we show what difficulties can arise when failing to account for estimation risk. Our working … parameter sigma, we derive the resulting marginal distribution of the approximated GBM. This allows us to derive post-estimation … results for the technically more-complicated formulae associated with our post-estimation process. We discuss an assortment of …
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