Title Page
by Richard de Neufville, David Geltner
Flexibility and Real Estate Valuation under Uncertainty
- Cover
- Title Page
- Foreword
- Authors’ Preface
- Acknowledgments
- About the Companion Website
- 1 Discounted Cash Flow Valuation
- 2 Economics of the Discounted Cash Flow Valuation Model
- 3 Future Scenarios Matter
- 4 Scenario Analysis
- 5 Future Outcomes Cover a Range of Possibilities
- 6 Simulation of Outcomes
- 7 Modeling Price Dynamics
- 8 Interpreting Simulation Results
- 9 Resale Timing Decision: Analysis
- 10 Resale Timing Decision: Discussion
- 11 Development Project Valuation
- 12 Basic Flexibility in Development Projects
- 13 Option Dichotomies
- 14 Product Options in Development
- 15 Timing Options in Development
- 16 Garden City: An Example Multi‐Asset Development Project
- 17 Effect of Uncertainty without Flexibility in Development Project Evaluation
- 18 Project Start‐Delay Flexibility
- 19 Decision Rules and Value Implications
- 20 Modular Production Timing Flexibility
- 21 Product Mix Flexibility
- 21.1 Product Mix Flexibility
- 21.2 Modeling the Product Mix Option
- 21.3 Value of Product Mix Flexibility
- 21.4 Effect of Combining Product Mix Flexibility and Timing Options
- 21.5 Effect of Correlation in the Product Markets on the Value of Product Mix Flexibility
- 21.6 Effect of Volatility on the Value of Flexibility
- 21.7 Conclusion
- 22 Project Phasing Flexibility
- 23 Optimal Phasing
- 24 Overall Summary
- Appendix Quantifying Real Estate Uncertainty
- Glossary
- Acronyms and Symbols
- Index
- End User License Agreement
Flexibility and Real Estate Valuation under Uncertainty: A Practical Guide for Developers
David Geltner
Massachusetts Institute of Technology
Cambridge, MA, USA
Richard de Neufville
Massachusetts Institute of Technology
Cambridge, MA, USA
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