Real Options and Merchant Operations of Energy and Other Commodities

ISBN-13: 9781601988423 / Angielski / Miękka / 2014 / 190 str.

Nicola Secomandi; Duane J. Seppi

Opis

Real Options and Merchant Operations of Energy and Other Commodities delivers a distinctive perspective, integrating finance and operations, on the topic of merchant operations-a new term introduced in the monograph to describe the management and valuation of conversion assets from a merchant perspective. The monograph aims to present the basic tenants of merchant operations as being the management of commodity conversion assets as real options on commodity prices, while the scope is based on the foundational principles that underlie that valuation of real options. Real Options and Merchant Operations of Energy and Other Commodities follows a straightforward approach. Section 2 introduces and explains conversion assets and merchant operations. Section 3 outlines the theory behind the valuation of real options, while Section 4 illustrates a number of widely used models of the evolution of commodity and energy prices. Sections 5 and 6 provide an in-depth explanation of the operational management of commodity storage assets. Section 7 deals with inventory disposal and acquisitions, and swing assets as final considerations, before Section 8 explains future trends in merchant operations research and application.

Spis treści

Aim and Scope. Commodity Conversion Asset and Merchant Operations. Commodity Option Valuation. Modeling Commodity and Energy Prices. Modeling Commodity Storage Assets. Benchmarking the Practice Based Management of Commodity Storage Assets. Modeling Other Commodity Conversion Assets. Trends.