Relevant bibliographies by topics / American Options

Academic literature on the topic 'American Options'

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Published: 4 June 2021
Last updated: 20 February 2023

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Journal articles on the topic "American Options"

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KE, ZIWEI, and JOANNA GOARD. "PENALTY AMERICAN OPTIONS." International Journal of Theoretical and Applied Finance 22, no. 02 (March 2019): 1950001. http://dx.doi.org/10.1142/s0219024919500018.

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We present a new American-style option whereby on the event of exercise before expiry, the holder pays the writer a fee (which will be referred to as a ‘penalty’). The valuation of the option is not straightforward as it involves determining when it is optimal for the holder to exercise the option, leading to a free boundary problem. As most options in the traded markets have short maturities, accurate and fast valuations of such options are important. We derive analytic approximations for the value of the option with short times to expiry (up to [Formula: see text] months) and its optimal exercise boundary. Some properties of the option, such as the put–call relationship, are explored as well. Numerical experiments suggest that our solutions both for the optimal exercise boundary and option value provide very accurate results.
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QIU, SHI, and SOVAN MITRA. "MATHEMATICAL PROPERTIES OF AMERICAN CHOOSER OPTIONS." International Journal of Theoretical and Applied Finance 21, no. 08 (December 2018): 1850062. http://dx.doi.org/10.1142/s0219024918500620.

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The American chooser option is a relatively new compound option that has the characteristic of offering exceptional risk reduction for highly volatile assets. This has become particularly significant since the start of the global financial crisis. In this paper, we derive mathematical properties of American chooser options. We show that the two optimal stopping boundaries for American chooser options with finite horizon can be characterized as the unique solution pair to a system formed by two nonlinear integral equations, arising from the early exercise premium (EEP) representation. The proof of EEP representation is based on the method of change-of-variable formula with local time on curves. The key mathematical properties of American chooser options are proved, specifically smooth-fit, continuity of value function and continuity of free-boundary among others. We compare the performance of the American chooser option against the American strangle option. We also conduct numerical experiments to illustrate our results.
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Qiu, Shi. "American Strangle Options." Applied Mathematical Finance 27, no. 3 (May 3, 2020): 228–63. http://dx.doi.org/10.1080/1350486x.2020.1825968.

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Chesney, Marc, and Laurent Gauthier. "American Parisian options." Finance and Stochastics 10, no. 4 (August 11, 2006): 475–506. http://dx.doi.org/10.1007/s00780-006-0015-3.

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Detemple, Jérôme, Souleymane Laminou Abdou, and Franck Moraux. "American step options." European Journal of Operational Research 282, no. 1 (April 2020): 363–85. http://dx.doi.org/10.1016/j.ejor.2019.09.009.

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Klein, Peter, and Jun Yang. "Vulnerable American options." Managerial Finance 36, no. 5 (April 20, 2010): 414–30. http://dx.doi.org/10.1108/03074351011039436.

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Detemple, Jérôme, and Thomas Emmerling. "American chooser options." Journal of Economic Dynamics and Control 33, no. 1 (January 2009): 128–53. http://dx.doi.org/10.1016/j.jedc.2008.05.004.

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DOKUCHAEV, NIKOLAI. "MULTIPLE RESCINDABLE OPTIONS AND THEIR PRICING." International Journal of Theoretical and Applied Finance 12, no. 04 (June 2009): 545–75. http://dx.doi.org/10.1142/s0219024909005348.

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We suggest a modification of an American option such that the option holder can exercise the option early before the expiration and can revert later this decision to exercise; it can be repeated a number of times. This feature gives additional flexibility and risk protection for the option holder. A classification of these options and pricing rules are given. We found that the price of some call options with this feature is the same as for the European call. This means that the additional flexibility costs nothing, similarly to the situation with American and European call options. For the market model with zero interest rate, the price of put options with this feature is also the same as for the standard European put options. Therefore, these options can be more competitive than the standard American options.
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Barone, Gaia. "European Compound Options Writtenon Perpetual American Options." Journal of Derivatives 20, no. 3 (February 28, 2013): 61–74. http://dx.doi.org/10.3905/jod.2013.20.3.061.

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Chung, San-Lin, and Hsieh-Chung Chang. "Generalized Analytical Upper Bounds for American Option Prices." Journal of Financial and Quantitative Analysis 42, no. 1 (March 2007): 209–27. http://dx.doi.org/10.1017/s0022109000002258.

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AbstractThis paper generalizes and tightens Chen and Yeh's (2002) analytical upper bounds for American options under stochastic interest rates, stochastic volatility, and jumps, where American option prices are difficult to compute with accuracy. We first generalize Theorem 1 of Chen and Yeh (2002) and apply it to derive a tighter upper bound for American calls when the interest rate is greater than the dividend yield. Our upper bounds are not only tight, but also converge to accurate American call option prices when the dividend yield or strike price is small or when volatility is large. We then propose a general theorem that can be applied to derive upper bounds for American options whose payoffs depend on several risky assets. As a demonstration, we utilize our general theorem to derive upper bounds for American exchange options and American maximum options on two risky assets.
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Dissertations / Theses on the topic "American Options"

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Larsson, Karl. "Pricing American Options using Simulation." Thesis, Umeå universitet, Institutionen för matematik och matematisk statistik, 2007. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-51341.

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American options are financial contracts that allow exercise at any time until ex- piration. While the pricing of standard American option contracts has been well researched, with a few exceptions no analytical solutions exist. Valuation of more in- volved American option contracts, which include multiple underlying assets or path- dependent payoff, is still to a high degree an uncharted area. Most numerical methods work badly for such options as their time complexity scales exponentially with the number of dimensions. In this Master’s thesis we study valuation methods based on Monte Carlo sim- ulations. Monte Carlo methods don’t suffer from exponential time complexity, but have been known to be difficult to use for American option pricing due to the forward nature of simulations and the backward nature of American option valuation. The studied methods are: Parametrization of exercise rule, Random Tree, Stochastic Mesh and Regression based method with a dual approach. These methods are evaluated and compared for the standard American put option and for the American maximum call option. Where applicable the values are compared with those from deterministic reference methods. The strengths and weaknesses of each method is discussed. The Regression based method essentially reduces the problem to one of selecting suitable basis functions. This choice is empirically evaluated for the following Amer- ican option contracts; standard put, maximum call, basket call, Asian call and Asian call on a basket. The set of basis functions considered include polynomials in the underlying assets, the payoff, the price of the corresponding European contract as well as certain analytic approximation of the latter. Results from the empirical studies show that the regression based method is the best choice when pricing exotic American options. Furthermore, using available analytical approximations for the corresponding European option values as a basis function seems to improve the performance of the method in most cases.
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Davenport, John D. "Analysis of American options." Connect to online resource, 2007. http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:dissertation&res_dat=xri:pqdiss&rft_dat=xri:pqdiss:3284479.

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Firth, Neil Powell. "High dimensional American options." Thesis, University of Oxford, 2005. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.427867.

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Pricing single asset American options is a hard problem in mathematical finance. There are no closed form solutions available (apart from in the case of the perpetual option), so many approximations and numerical techniques have been developed. Pricing multi–asset (high dimensional) American options is still more difficult. We extend the method proposed theoretically by Glasserman and Yu (2004) by employing regression basis functions that are martingales under geometric Brownian motion. This results in more accurate Monte Carlo simulations, and computationally cheap lower and upper bounds to the American option price. We have implemented these models in QuantLib, the open–source derivatives pricing library. The code for many of the models discussed in this thesis can be downloaded from quantlib.org as part of a practical pricing and risk management library. We propose a new type of multi–asset option, the “Radial Barrier Option” for which we find analytic solutions. This is a barrier style option that pays out when a barrier, which is a function of the assets and their correlations, is hit. This is a useful benchmark test case for Monte Carlo simulations and may be of use in approximating multi–asset American options. We use Laplace transforms in this analysis which can be applied to give analytic results for the hitting times of Bessel processes. We investigate the asymptotic solution of the single asset Black–Scholes–Merton equation in the case of low volatility. This analysis explains the success of some American option approximations, and has the potential to be extended to basket options.
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Richards, Darren Glyn. "Pricing American exotic options." Thesis, University of Cambridge, 1999. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.624594.

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Alobaidi, Ghada. "American options and their strategies." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 2000. http://www.collectionscanada.ca/obj/s4/f2/dsk2/ftp03/NQ58393.pdf.

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Duvel, Heimo. "Pricing methods for American options." Master's thesis, University of Cape Town, 2003. http://hdl.handle.net/11427/6903.

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Bibliography: leaves 89-94.
This thesis is about the comparison of Pricing models for the valuation of American Options. Three classes of numerical approaches are considered. These are Lattice Methods, Analytic Approximations and Monte Carlo Simulation. Methods will be contrasted in terms of accuracy and speed of the computed American option price. One particular method utilises regression when estimating the American option price. For this approach the impact of outliers and multicollinearity is examined and alternative regression models fitted. Monte Carlo Simulation is implemented to calculate early exercise probabilities of American options in the South African market. Results are compared for both call and put options. A test set of 3550 options is simulated with parameters mirroring the South African economy. On this set, the accuracy of all methods is assessed relative to a benchmark price, which is computed by a convergent lattice approach. Finally, American Symmetry is used to evaluate both put and call options.
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Aguilar, Erick Trevino. "American options in incomplete markets." Doctoral thesis, Humboldt-Universität zu Berlin, Mathematisch-Naturwissenschaftliche Fakultät II, 2008. http://dx.doi.org/10.18452/15820.

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In dieser Dissertation werden Amerikanischen Optionen in einem unvollst¨andigen Markt und in stetiger Zeit untersucht. Die Dissertation besteht aus zwei Teilen. Im ersten Teil untersuchen wir ein stochastisches Optimierungsproblem, in dem ein konvexes robustes Verlustfunktional ueber einer Menge von stochastichen Integralen minimiert wird. Dies Problem tritt auf, wenn der Verkaeufer einer Amerikanischen Option sein Ausfallsrisiko kontrollieren will, indem er eine Strategie der partiellen Absicherung benutzt. Hier quantifizieren wir das Ausfallsrisiko durch ein robustes Verlustfunktional, welches durch die Erweiterung der klassischen Theorie des erwarteten Nutzens durch Gilboa und Schmeidler motiviert ist. In einem allgemeinen Semimartingal-Modell beweisen wir die Existenz einer optimalen Strategie. Unter zusaetzlichen Kompaktheitsannahmen zeigen wir, wie das robuste Problem auf ein nicht-robustes Optimierungsproblem bezueglich einer unguenstigsten Wahrscheinlichkeitsverteilung reduziert werden kann. Im zweiten Teil untersuchen wir die obere und die untere Snellsche Einhuellende zu einer Amerikanischen Option. Wir konstruieren diese Einhuellenden fuer eine stabile Familie von aequivalenten Wahrscheinlichkeitsmassen; die Familie der aequivalentenMartingalmassen ist dabei der zentrale Spezialfall. Wir formulieren dann zwei Probleme des robusten optimalen Stoppens. Das Stopp-Problem fuer die obere Snellsche Einhuellende ist durch die Kontrolle des Risikos motiviert, welches sich aus der Wahl einer Ausuebungszeit durch den Kaeufer bezieht, wobei das Risiko durch ein kohaerentes Risikomass bemessen wird. Das Stopp-Problem fuer die untere Snellsche Einhuellende wird durch eine auf Gilboa und Schmeidler zurueckgehende robuste Erweiterung der klassischen Nutzentheorie motiviert. Mithilfe von Martingalmethoden zeigen wir, wie sich optimale Loesungen in stetiger Zeit und fuer einen endlichen Horizont konstruieren lassen.
This thesis studies American options in an incomplete financial market and in continuous time. It is composed of two parts. In the first part we study a stochastic optimization problem in which a robust convex loss functional is minimized in a space of stochastic integrals. This problem arises when the seller of an American option aims to control the shortfall risk by using a partial hedge. We quantify the shortfall risk through a robust loss functional motivated by an extension of classical expected utility theory due to Gilboa and Schmeidler. In a general semimartingale model we prove the existence of an optimal strategy. Under additional compactness assumptions we show how the robust problem can be reduced to a non-robust optimization problem with respect to a worst-case probability measure. In the second part, we study the notions of the upper and the lower Snell envelope associated to an American option. We construct the envelopes for stable families of equivalent probability measures, the family of local martingale measures being an important special case. We then formulate two robust optimal stopping problems. The stopping problem related to the upper Snell envelope is motivated by the problem of monitoring the risk associated to the buyer’s choice of an exercise time, where the risk is specified by a coherent risk measure. The stopping problem related to the lower Snell envelope is motivated by a robust extension of classical expected utility theory due to Gilboa and Schmeidler. Using martingale methods we show how to construct optimal solutions in continuous time and for a finite horizon.
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Lee, Jongwoo. "Analytic approximations for the valuation of American options : extensions and application to real American exotic options." Thesis, University of Manchester, 2001. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.629934.

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Determining the early exercise premiums for American options has provided a challenging task for option pricing problems. In the absence of an explicit expression for the optimal exercise bOWldary, solutions have tended to be computationally expensive numerical methods. In response, a variety of analytic approximations have been suggested. There is considerable interest in an analytic model, which retains a simple valuation framework with time-efficiency while maintaining its accuracy. In this study, based on the Geske and Johnson compoWld option approach, we propose an alternative analytic approximation for the American option by introducing a confined exponential extrapolation scheme. Establishing a specific restriction on the upper boWld between the American put price and the number of exercise points provides highly accurate estimations for short and even long-term options with computational efficiency. Numerical results show that our approximations clearly overcome the deficiencies of the existing two-point extrapolation schemes. Valuing American options has important implications for real options, since many investment opportWlities often have a finite-time horizon, which can be phrased in terms of American options. We extend the American option model to the American exotic options, which incorporate multiple-price operating options and sequential strategic options. As an application, we consider a hypothetical project, where the value of the option to invest and the value of the project are explicitly presented using real American exotic options. We further derive a closed-form approximation for the two-factor American option by incorporating the stochastic behaviour of the convenience yield as a mean-reverting process, which can be applied to commodityrelated real options as well as to American commodity futures options. There are limitations in deriving and applying analytical solutions for the valuation of real American exotic options associated with complex real investment situations. However, our proposed analytic approximations give a useful decision framework and the valuation tool without losing accuracy, while reducing the complexity of the valuation problem where no exact closed form solutions are known
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Han, Jun. "Pricing Some American Multi-Asset Options." Thesis, Uppsala University, Department of Mathematics, 2009. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-119966.

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Glover, Elistan Nicholas. "Analytic pricing of American put options." Thesis, Rhodes University, 2009. http://hdl.handle.net/10962/d1002804.

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American options are the most commonly traded financial derivatives in the market. Pricing these options fairly, so as to avoid arbitrage, is of paramount importance. Closed form solutions for American put options cannot be utilised in practice and so numerical techniques are employed. This thesis looks at the work done by other researchers to find an analytic solution to the American put option pricing problem and suggests a practical method, that uses Monte Carlo simulation, to approximate the American put option price. The theory behind option pricing is first discussed using a discrete model. Once the concepts of arbitrage-free pricing and hedging have been dealt with, this model is extended to a continuous-time setting. Martingale theory is introduced to put the option pricing theory in a more formal framework. The construction of a hedging portfolio is discussed in detail and it is shown how financial derivatives are priced according to a unique riskneutral probability measure. Black-Scholes model is discussed and utilised to find closed form solutions to European style options. American options are discussed in detail and it is shown that under certain conditions, American style options can be solved according to closed form solutions. Various numerical techniques are presented to approximate the true American put option price. Chief among these methods is the Richardson extrapolation on a sequence of Bermudan options method that was developed by Geske and Johnson. This model is extended to a Repeated-Richardson extrapolation technique. Finally, a Monte Carlo simulation is used to approximate Bermudan put options. These values are then extrapolated to approximate the price of an American put option. The use of extrapolation techniques was hampered by the presence of non-uniform convergence of the Bermudan put option sequence. When convergence was uniform, the approximations were accurate up to a few cents difference.
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Books on the topic "American Options"

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American put options. Harlow, Essex, England: Longman, 1997.

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Kogan, Leonid. Pricing American options: A duality approach. [Cambridge, Mass: Alfred P. Sloan School of Management, Massachusetts Institute of Technology], 2001.

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American-type options: Stochastic approximation methods. Berlin: Walter de Gruyter GmbH & Co. KG, 2014.

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Lee, Jongwoo. Analytic approximations for the valuation of American options: Extensions and applications to real American exotic options. Manchester: Manchester Business School, PhD, 2001.

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Satin, Mark Ivor. New options for America: The second American experiment has begun. Fresno, Calif: Press at California State University, Fresno, 1991.

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Little, Jean. Garfield weighs his options. New York: Ballantine Books, 2010.

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1949-, Lawrence Robert Z., and Schultze Charles L, eds. An American trade strategy: Options for the 1990s. Washington, D.C: Brookings Institution, 1990.

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Garfield weighs his options. New York: Ballantine Books, 2010.

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A new hearing: Living options in homiletic methods. Nashville: Abingdon Press, 1987.

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American domestic shipping in American ships: Jones Act costs, benefits, and options. Washington, D.C: American Enterprise Institute for Public Policy Research, 1985.

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Book chapters on the topic "American Options"

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Franke, Jürgen, Wolfgang Karl Härdle, and Christian Matthias Hafner. "American Options." In Universitext, 133–45. Berlin, Heidelberg: Springer Berlin Heidelberg, 2014. http://dx.doi.org/10.1007/978-3-642-54539-9_8.

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Borak, Szymon, Wolfgang Karl Härdle, and Brenda López Cabrera. "American Options." In Statistics of Financial Markets, 93–102. Berlin, Heidelberg: Springer Berlin Heidelberg, 2010. http://dx.doi.org/10.1007/978-3-642-11134-1_8.

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Franke, Jürgen, Wolfgang Karl Härdle, and Christian Matthias Hafner. "American Options." In Universitext, 131–43. Cham: Springer International Publishing, 2019. http://dx.doi.org/10.1007/978-3-030-13751-9_8.

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Cutland, Nigel J., and Alet Roux. "American Options." In Springer Undergraduate Mathematics Series, 211–67. London: Springer London, 2012. http://dx.doi.org/10.1007/978-1-4471-4408-3_7.

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Chan, Raymond H., Yves ZY Guo, Spike T. Lee, and Xun Li. "American Options." In Financial Mathematics, Derivatives and Structured Products, 179–94. Singapore: Springer Singapore, 2019. http://dx.doi.org/10.1007/978-981-13-3696-6_15.

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Franke, Jürgen, Wolfgang Härdle, and Christian M. Hafner. "American Options." In Universitext, 107–19. Berlin, Heidelberg: Springer Berlin Heidelberg, 2004. http://dx.doi.org/10.1007/978-3-662-10026-4_8.

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Musiela, Marek, and Marek Rutkowski. "American Options." In Martingale Methods in Financial Modelling, 183–204. Berlin, Heidelberg: Springer Berlin Heidelberg, 1997. http://dx.doi.org/10.1007/978-3-662-22132-7_8.

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Hilber, Norbert, Oleg Reichmann, Christoph Schwab, and Christoph Winter. "American Options." In Springer Finance, 65–74. Berlin, Heidelberg: Springer Berlin Heidelberg, 2013. http://dx.doi.org/10.1007/978-3-642-35401-4_5.

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Privault, Nicolas. "American Options." In Introduction to Stochastic Finance with Market Examples, 419–48. 2nd ed. Boca Raton: Chapman and Hall/CRC, 2022. http://dx.doi.org/10.1201/9781003298670-15.

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Campolieti, Giuseppe, and Roman N. Makarov. "American Options." In Financial Mathematics, 307–30. Boca Raton: Chapman and Hall/CRC, 2022. http://dx.doi.org/10.1201/9780429468889-5.

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Conference papers on the topic "American Options"

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T. Ehrlichman, Samuel, and Shane Henderson. "American Options from MARS." In 2006 Winter Simulation Conference. IEEE, 2006. http://dx.doi.org/10.1109/wsc.2006.323151.

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Beh, W. L., A. H. Pooi, and K. L. Goh. "Pricing of American Call Options." In 2010 Second International Conference on Computer Research and Development. IEEE, 2010. http://dx.doi.org/10.1109/iccrd.2010.125.

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Burton, Christina, Mc-Kay Heasley, Jeffrey Humpherys, and Jialin Li. "Pricing of American retail options." In 2010 American Control Conference (ACC 2010). IEEE, 2010. http://dx.doi.org/10.1109/acc.2010.5531418.

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Wang, Chou-Wen, and Chin-Wen Wu. "Valuing American Options under ARMA Processes." In 2008 3rd International Conference on Innovative Computing Information and Control. IEEE, 2008. http://dx.doi.org/10.1109/icicic.2008.592.

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Achdou, Yves, and Olivier Pironneau. "American Options. Pricing and volatily calibration." In Control Systems: Theory, Numerics and Applications. Trieste, Italy: Sissa Medialab, 2006. http://dx.doi.org/10.22323/1.018.0020.

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WU, YONG, NA LIU, and LINHUA ZHANG. "On Precise Integration Method for American Options." In Proceedings of the International Conference. World Scientific Publishing Company, 2008. http://dx.doi.org/10.1142/9789812799524_0115.

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Vellekoop, Michel, and Geeske Vlaming. "Pricing American options with the SABR model." In Distributed Processing (IPDPS). IEEE, 2009. http://dx.doi.org/10.1109/ipdps.2009.5161142.

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Guo, Meihui, Yu-Chun Chang, and Shih-Feng Huang. "Pricing American Options in a Jump Diffusion Model." In 2011 IEEE 14th International Conference on Computational Science and Engineering (CSE). IEEE, 2011. http://dx.doi.org/10.1109/cse.2011.48.

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Yin, G., J. W. Wang, and Q. Zhang. "A new approach for pricing American put options." In 2004 43rd IEEE Conference on Decision and Control (CDC) (IEEE Cat. No.04CH37601). IEEE, 2004. http://dx.doi.org/10.1109/cdc.2004.1429355.

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D'Acquisto, Giuseppe, Pietro Cassara, and Luigi Alcuri. "American Options Based Service Pricing For Virtual Operators." In NOMS 2008 - 2008 IEEE Network Operations and Management Symposium Workshop. IEEE, 2008. http://dx.doi.org/10.1109/nomsw.2007.31.

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Reports on the topic "American Options"

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Rojas-Bernal, Alejandro, and Mauricio Villamizar-Villegas. Pricing the exotic: Path-dependent American options with stochastic barriers. Banco de la República de Colombia, March 2021. http://dx.doi.org/10.32468/be.1156.

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We develop a novel pricing strategy that approximates the value of an American option with exotic features through a portfolio of European options with different maturities. Among our findings, we show that: (i) our model is numerically robust in pricing plain vanilla American options; (ii) the model matches observed bids and premiums of multidimensional options that integrate Ratchet, Asian, and Barrier characteristics; and (iii) our closed-form approximation allows for an analytical solution of the option’s greeks, which characterize the sensitivity to various risk factors. Finally, we highlight that our estimation requires less than 1% of the computational time compared to other standard methods, such as Monte Carlo simulations.
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Karatzas, Ioannis. On the Pricing of American Options. Fort Belvoir, VA: Defense Technical Information Center, May 1986. http://dx.doi.org/10.21236/ada170021.

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Kharrat, Mohamed. Pricing American Put Options Using Malliavin Calculus with Optimal Localization Function. "Prof. Marin Drinov" Publishing House of Bulgarian Academy of Sciences, October 2021. http://dx.doi.org/10.7546/crabs.2021.10.04.

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Papaioannou, Dimitrios, and Elisabeth Windisch. Open configuration options Decarbonising Transport in Latin American Cities: Assessing Scenarios. Edited by Laureen Montes Calero and Ernesto Monter. Inter-American Development Bank, February 2022. http://dx.doi.org/10.18235/0003976.

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This report is the second output of the Decarbonising Transport in Latin American Cities project (DTLA), developed jointly by the Inter-American Development Bank (IDB) and the International Transport Forum (ITF-OECD). DTLA supports transport decarbonisation in Bogota (Colombia), Buenos Aires (Argentina), and Mexico City (Mexico). These cities were selected based on their data availability about urban transport activity. As a result of this initiative, the first report describes a review of policies and key mobility challenges to deliver on a sustainable transport system. This second report presents the development and provision of a quantitative assessment tool that allows assessing the impact of transport CO2 reduction actions and respective scenarios to 2050. Both reports facilitate policy dialogue across all relevant stakeholders and supports peer learning and best practice exchange between the case study cities and beyond. Moreover, the reports bring out the need for rethinking decarbonization policies to consider their potential for achieving other benefits related with improving the quality of the transport services, closing gender equality gaps, and improving financial sustainability of current business models.
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Campos do Prado, Josue, Jeffrey S. Logan, and Francisco Flores-Espino. Options for Resilient and Flexible Power Systems in Select South American Economies. Office of Scientific and Technical Information (OSTI), December 2019. http://dx.doi.org/10.2172/1577969.

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Schock, Alfred, and Chuen T. Or. RTG Options for JPL's Pluto Fast Flyby Mission Using American and Russian Fuel. Office of Scientific and Technical Information (OSTI), March 1994. http://dx.doi.org/10.2172/1033410.

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Dueker, Michael J., and Thomas W. Miller Jr. Directly Measuring Early Exercise Premiums Using American and European S&P 500 Index Options. Federal Reserve Bank of St. Louis, 2002. http://dx.doi.org/10.20955/wp.2002.016.

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Cornick, Jorge, Jeffry Frieden, Mauricio Mesquita Moreira, and Ernesto H. Stein. Open configuration options Political Economy of Trade Policy in Latin America. Inter-American Development Bank, February 2022. http://dx.doi.org/10.18235/0003986.

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Few propositions in economics are as widely accepted as the theory of comparative advantage: If two countries have a comparative advantage in the production of different goods and services, trade can be welfare-enhancing for both. But trade policy has always been controversial in Latin America, as it is not made by academic economists but by politicians who need to gather and maintain the support of constituents who in some cases have much to lose or gain from different trade policies. This book walks the reader through a complex thicket of contending interests and disparate political institutions to analyze why Latin American governments make the trade policies they do. Its chapters show how an array of different governments have attempted to navigate frequently conflicting interests and ideas, and how different institutional arrangements impinge on trade policy design and outcomes. It is to be hoped that the experiences analyzed here can inform the making of future policy and, perhaps, help improve it.
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Paternina Blanco, Joshua, Elisabeth Windisch, Stephen Perkins, Asuka Ito, and Jonathan Leape. Open configuration options Decarbonising Transport in Latin American Cities: A Review of Policies and Key Challenges. Inter-American Development Bank, February 2022. http://dx.doi.org/10.18235/0003987.

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This report is the first output of the Decarbonising Transport in Latin American Cities project (DTLA), developed jointly by the Inter-American Development Bank (IDB) and the International Transport Forum (ITF-OECD). As a result of this initiative, this first report describes a review of policies and key mobility challenges to deliver on a sustainable transport system. A second report provides a quantitative assessment tool that allows assessing the impact of transport CO2 reduction actions and respective scenarios to 2050. Both reports facilitate policy dialogue across all relevant stakeholders and supports peer learning and best practice exchange between the case study cities and beyond. Moreover, the reports bring out the need for rethinking decarbonization policies to consider their potential for achieving other benefits related with improving the quality of the transport services, closing gender equality gaps, and improving financial sustainability of current business models.
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10

Crespi, Gustavo, Charlotte Guillard, Mónica Salazar, and Fernando Vargas. Open configuration options Harmonized Latin American Innovation Surveys Database (LAIS): Firm-Level Microdata for the Study of Innovation. Inter-American Development Bank, March 2022. http://dx.doi.org/10.18235/0004057.

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This paper provides the methods through which the first version of the harmonized Latin American Innovation Surveys database (LAIS) was built. LAIS, which is made freely available through the Inter-American Development Bank, contains nearly 690 variables and 119,900 observations at the firm level from 30 national innovation surveys conducted between 2007 and 2017 in 10 Latin American countries, increasing the number of countries of the region with publicly available microdata. This paper describes how, starting from significantly different survey methods and questionnaires between countries, criteria were applied to identify and select variables from different surveys measuring the same underlying concept. It also discusses and guides how differences in survey methodologies may affect comparisons even after the harmonization of variables. LAIS includes data on innovation activities expenditures, sources of information and collaborations for innovation, innovation obstacles, outputs and effects, protection of innovation results, and general firm characteristics. Since LAIS significantly decreases the cost of making data comparisons between countries, it will allow more scholars to research innovation in Latin American firms and to tackle long-standing unanswered questions about the importance of framework conditions in LAC for innovation decisions in firms.
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