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dc.date2014
dc.date.available2015-11-06T21:15:37Z
dc.date.issued2014
dc.identifier.issn1657-4206
dc.identifier.urihttp://hdl.handle.net/10784/7627
dc.description.abstractThis purpose of this research is to identify appropriate rates to discount the flows from real options in situations in which the risk-free rate does not apply, in particular, in incomplete markets.  A methodology is proposed for valuing real options based on certainty equivalence, which requires as a principal condition the consideration of preferences represented with utility functions.  A constant relative risk aversion (CRRA) utility function is used to represent these preferences. The results indicate that this methodology adequately reflects how the value of a real option changes in accordance with an investor´s preferences.eng
dc.language.isoengeng
dc.publisherUniversidad EAFITeng
dc.relation.ispartofEcos De Economía. Vol. 18, (39), 2014, pp.49-71spa
dc.relation.isversionofhttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2706
dc.relation.urihttp://publicaciones.eafit.edu.co/index.php/ecos-economia/article/view/2706
dc.rightsopenAccesseng
dc.rightsThis work is licensed under a Creative Commons Attribution 3.0 License. spa
dc.sourceEcos De Economía. Vol. 18, (39), 2014, pp.49-71spa
dc.titleValoración de opciones reales a través de equivalentes de certezaeng
dc.typearticleeng
dc.typeinfo:eu-repo/semantics/articleeng
dc.typeinfo:eu-repo/semantics/publishedVersioneng
dc.rights.accessrightsinfo:eu-repo/semantics/openAccesseng
dc.type.localArtículospa
dc.subject.keywordreal optionseng
dc.subject.keywordutility functioneng
dc.subject.keywordcertainty equivalenteng
dc.subject.keywordincomplete marketseng
dc.subject.keywordCRRAeng
dc.rights.localAcceso abiertospa
dc.date.accessioned2015-11-06T21:15:37Z
dc.type.hasVersionpublishedVersioneng
dc.type.hasVersionObra publicadaspa
dc.contributor.departmentEconomía y Finanzasspa
dc.contributor.departmentFinanzasspa
dc.contributor.authorMaya Ochoa, Ceciliaspa
dc.contributor.authorPareja Vasseur, Juliánspa
dc.citation.journalTitleEcos De Economíaspa
dc.citation.volume18
dc.citation.issue39
dc.citation.spage49
dc.citation.epage71
dc.contributor.affiliationOperaciones Financieras XM S.A, Grupo de Investigación en Finanzas y Banca, Universidad EAFITspa
dc.contributor.affiliationDepartamento de Finanzas, Grupo de Investigación en Finanzas y Banca, Universidad EAFITspa
dc.contributor.programGrupo de Investigación Finanzas y Bancaspa


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