real options presentation thanks comments grant presentation couple external conferences vince volunteered vince ok content stinson raised exactly issues unfortunately seem getting response risk whatsoever publication article conferences public debut real options notation course discounting risk neutrality thing real judgement sits questions arise take line research formulates models using appropriate derivatives market based valuation methods work rac group considers discounting associated various risks chooses rates appropriately notation makes clear uncertainties exposed different stages deals assists choosing rates practice yet stage originators using notation yet another reason say much actual use conference producing various tools deterministic hydro optimization gbm swing option valuation deterministic dp optimization genset dispatch people want right working background kind modelling notation demands people getting know guy solve immediate problems likely listen start rolling proper options based models notation currently used specs writing tools producing turning dale spreadsheet based power plant spread model american monte carlo tool available inclusion models think end summer real options theoretical work start bear fruit one year initially proposed notation quant group co creating place may yet see automated diagramming pricing tool made real thanks also pointer tom halliburton use lingo lp integer package something presented teesside plant operation optimizer rather something chose perm physical energy risk mgt group got couple analysts hack together including natasha danilochkina asked tidy work going use existing faulty model meet project deadlines sketching proper mathematical spec problem persuaded sort business critical system developed properly research seem happy fall line wilton plant optimizer developed one peter morawitz guy hoped recruit research obviously realise better average quantitative modelling anyway accept properly take months rather weeks freer hand choice modelling tool chat tom would extremely valuable cheers steve enron capital internal enron external presentation external would say limit sliding proprietary stuff perhaps neatly almost entirely avoided questions discounting risk neutrality lack regards grant