In this paper we price a precipitation option based on empirical weather data from Germanyusing different pricing methods, among them the burn analysis, index value simulation anddaily simulation. For that purpose we develop a daily precipitation model. Moreover, a decorrelationanalysis is...

Spätestens seit Erscheinen des viel zitierten Buches „Investment under Uncertainty“ von Dixitund Pindyck (1994) erfährt die neue Investitionstheorie (synonym: Realoptionstheorie) großeAufmerksamkeit. Neben theoretischen Weiterentwicklungen und Verfeinerungen wird dieRealoptionstheorie in...

Disinvestment, in the sense of project termination and liquidation of assets including thecession of a venture, is an important realm of entrepreneurial decision-making. This studypresents the results of an experimental investigation modeling the choice to disinvest as adynamic problem of...

Numerous studies have tried to provide a better understanding of firm-level investment behaviour using econometric models. The model specification of more recent studies has been based on two main approaches. The first, the real options approach, focuses on irreversibility and uncertainty in...

In der Literatur werden zahlreiche Versuche unternommen, das Investitionsverhalten von Unternehmen durch die Anwendung ökonometrischer Modelle zu verstehen. Die Spezifikation dieser Modelle stützt sich in der jüngeren Vergangenheit auf zwei Theoriebereiche. Zum einen ist dies die neue...

Numerous studies have tried to provide a better understanding of firm-level investment behaviour using econometric models. The model specification of more recent studies has been based on two main approaches. The first, the real options approach, focuses on irreversibility and uncertainty in...

In usual pricing approaches for weather derivatives, forward-looking information such as meteorological weather forecasts is not considered. Thus, important knowledge used by market participants is ignored in theory. By extending a standard model for the daily temperature, this paper allows the...