ESTIMATING THE VALUE OF CONTRACTS - A SIMULATION STUDY.

Charles S. Tapiero; Philippe de Loze

doi:10.1051/ro/197408V300331

ESTIMATING THE VALUE OF CONTRACTS - A SIMULATION STUDY.

Charles S. Tapiero^*
, Philippe de Loze

^*Corresponding author for this work

BA Business Department

Research output: Contribution to journal › Article › peer-review

1 Scopus citations

Abstract

Contracts are binding bilateral agreements by which agreed-on exchange terms between two firms are used as substitutes for current market mechanisms as a medium of economic exchange. A model describing the probabilistic evolution of prices and demands, contract clauses and the value of contracts is simulated. As an example, five contract terms are considered and the simulated probability distributions for the value of each of these contracts is given. They are then compared in terms of their expected returns, variance and stochastic dominance.

Original language	English
Pages (from-to)	33-49
Number of pages	17
Journal	Rev Fr Autom Inf Rech Oper
Volume	8
DOIs	https://doi.org/10.1051/ro/197408V300331
State	Published - 1974

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title = "ESTIMATING THE VALUE OF CONTRACTS - A SIMULATION STUDY.",

abstract = "Contracts are binding bilateral agreements by which agreed-on exchange terms between two firms are used as substitutes for current market mechanisms as a medium of economic exchange. A model describing the probabilistic evolution of prices and demands, contract clauses and the value of contracts is simulated. As an example, five contract terms are considered and the simulated probability distributions for the value of each of these contracts is given. They are then compared in terms of their expected returns, variance and stochastic dominance.",

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AB - Contracts are binding bilateral agreements by which agreed-on exchange terms between two firms are used as substitutes for current market mechanisms as a medium of economic exchange. A model describing the probabilistic evolution of prices and demands, contract clauses and the value of contracts is simulated. As an example, five contract terms are considered and the simulated probability distributions for the value of each of these contracts is given. They are then compared in terms of their expected returns, variance and stochastic dominance.

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ESTIMATING THE VALUE OF CONTRACTS - A SIMULATION STUDY.

Abstract

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