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zur traditionellen Immobilienbewertung auf. Das entwickelte Verfahren gibt Kapitalanlegern und Gutachtern ein …
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In this paper we consider the optimal stopping problem for general dynamic monetary utility functionals. Sufficient conditions for the Bellman principle and the existence of optimal stopping times are provided. Particular attention is payed to representations which allow for a numerical...
Persistent link: https://www.econbiz.de/10003905569
Der Bewertung von Schiffsfonds kommt in der Praxis mit zunehmender Aktivität an neu entstandenen Zweitmärkten eine … immer stärkere Beachtung zu. Wissenschaftlich ist dieses Thema noch kaum bearbeitet worden, obwohl die Bewertung von … betrachtet der vorliegende Aufsatz und zeigt auf, wie eng Theorie und Praxis bei der Bewertung von Schiffsfonds zusammen hängen …
Persistent link: https://www.econbiz.de/10008696136
This paper documents a new channel for rating-based bond market segmentation which, in contrast to prior research, is based on non-regulatory asset management practices. A 2005 Lehman Brothers index redefinition provides a quasi-natural experiment in which a number of previously high-yield...
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Appraisals are needed for decision-making and for performance evaluation. Knowledge on the accuracy of valuation methods is of general interest for banks and investors. We assess the accuracy of the German Regulation on Valuation with monthly data on appraisals and prices for commercial...
Persistent link: https://www.econbiz.de/10009625798
This paper presents a simple framework for the analysis, valuation and simulation of several real options in the presence of shadow costs of incomplete information. Information costs can be viewed as sunk costs in the spirit of Merton's (1987) model of capital market equilibrium with incomplete...
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