This paper determines the cost of employee stock options (ESOs) to shareholders. I present a pricing method that seeks … to replicate the empirics of exercise and cancellation as good as possible. In a first step, an intensity-based pricing … analysis of exercise rates from the empirical work of Heath, Huddart and Lang. The pricing model thus takes account for all …

principal-agent-theory and from the theory of finance to analyze different forms of dividend protection, and to address the …

The classical option pricing theory assumes that the future payoffs are known; uncertain is only which payoff will be … model is extended to the case that payoffs are described by fuzzy numbers. By connecting option pricing theory and fuzzy set …In der heutigen Theorie der Optionsbewertung wird davon ausgegangen, daß die Markterwartungen genau berechenbar sind …

tools in a standard insurance demand theory environment. We concentrate on the problem of basis risk versus transaction cost …