Present Value of Random Walks

Kurzanzeige
dc.contributor.authorJöckel, Karl-Heinz
dc.contributor.authorPflaumer, Peter
dc.date.accessioned2026-10-09T05:59:32Z
dc.date.issued2026-07-23
dc.description.abstractThis 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.en
dc.identifier.urihttp://hdl.handle.net/2003/45156
dc.identifier.urihttp://dx.doi.org/10.17877/DE290R-26924
dc.language.isoen
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subjectDiscounted cash flowsen
dc.subjectVariance estimationen
dc.subjectStochastic processesen
dc.subjectInvestment risken
dc.subjectNevada casinosen
dc.subject.ddc310
dc.subject.rswkStochastischer Prozess
dc.subject.rswkBarwert
dc.subject.rswkCashflow
dc.subject.rswkVarianz
dc.subject.rswkSiebzehn und Vier
dc.subject.rswkRisikoanalyse
dc.titlePresent Value of Random Walksen
dc.title.alternativeVariance of Present Values under Random Walk Cash Flowsen
dc.typeText
dc.type.publicationtypeConferencePaper
dcterms.accessRightsopen access
eldorado.dnb.deposittrue
eldorado.secondarypublicationfalse

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