Titlebook: Stochastic Integrals; An Introduction Heinrich Weizsäcker,Gerhard Winkler Book 1990 Springer Fachmedien Wiesbaden 1990 Approximation.Browni

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Heinrich von Weizsäcker,Gerhard Winklerook the authors point out how relatively young even the word “model” is. On top of that, the concept is rather elusive. How to deal with a technology that ?nds applicationsinthingsasdi?erentaslogistics,robotics,circuitlayout,?nancial deals and tra?c control? Although, during the last decades, we mad

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Heinrich von Weizsäcker,Gerhard Winkler origin of the concept of real option (S. Myers) is also discussed. The relation (conceptual and mathematical) between financial and real option, as well as the concept of risk neutrality and its relevance for real options, is discussed ad nauseam. In the process, a mathematical framework for real o

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Heinrich von Weizsäcker,Gerhard Winklersignificantly undervalue certain project categories — namely projects with flexibility. New banking ventures in emerging markets precisely fall into this category. This validates the claim that a modified approach to the valuation of such projects is required. With real option valuation, an approach

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Martingales,ies .. This process in turn might appear as an integrator — say in .— and so on. Thus it is desirable to develop stochastic integration for a class of integrators rich enough to contain processes like X or Y. The appropriate class to start with is the class of (local) martingales.

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Localization and Approximation,integrands. Then one shows that the approximation of more general integrands by elementary ones yields a convergent sequence of the corresponding integral processes. The details depend on the choice of the respective spaces and concepts of convergence. In this chapter we discuss the part of the argu