The electrification of international shipping has gained attention from the global maritime industry in an effort to reduce pollution and greenhouse gas emissions. Despite rapidly falling battery prices and improvements in battery technologies, electric vehicles (both marine- and land-based...

The electrification of international shipping has gained attention from the global maritime industry in an effort to reduce pollution and greenhouse gas emissions. Despite rapidly falling battery prices and improvements in battery technologies, electric vehicles (both marine- and land-based...

A market-leveraged stock unit (MSU) is a form of employee compensation in which the number of shares received on the vesting date depends on the stock price at that time. MSUs have been proposed as a way of overcoming some of the drawbacks of stock options and restricted stock units. In this...

This paper provides extensions to existing procedures for representing one-factor no-arbitrage models of the short rate in the form of a tree. It allows a wide range of drift functions for the short rate to be used in conjunction with a wide range of volatility assumptions. It shows that, if the...

We define long shots as investment projects with four features: (1) low probabilities of success; (2) long gestation lags before any cash flows are realized; (3) large required up-front investments; and (4) very large payoffs (relative to initial investment) in the unlikely event of success....