Present Value of Random Walks
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Variance of Present Values under Random Walk Cash Flows
Zusammenfassung
This paper analyzes how random walks in cash flows affect Present Value (PV). We derive variance formulas for discounted and undiscounted sums under random disturbances, including special cases for infinite horizons. Applied to Nevada Blackjack monthly hold data (2004–2024), the framework illustrates how stochastic fluctuations impact valuation and investment risk assessment.
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Discounted cash flows, Variance estimation, Stochastic processes, Investment risk, Nevada casinos
Schlagwörter nach RSWK
Stochastischer Prozess, Barwert, Cashflow, Varianz, Siebzehn und Vier, Risikoanalyse