Alexander, Carol; Chen, Xi; Ward, Charles W. R. - 2021
valuation of an investment. By assuming no disagreement on the cash flows, we emphasize how risk preferences in particular, but … in future. We propose a risk-adjusted valuation model to facilitate investors' subjective decision making, in response to … able to illustrate the hedging effect on the real option value when perceptions of risk premia diverge. During crises …