An analysis of snow options for ski resort establishments
Küçük Resim Yok
Tarih
2010
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Elsevier Sci Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study proposes a pricing method for put options on snow level for tourism establishments operating in Palandoken ski resort in the east of Turkey. In the calculation of put prices historical densities and Edgeworth adjusted densities methods together with Alaton, Djehiche, and Stillberger (2002) method have been applied. The findings show that there may be significant differences in the prices calculated by the three different methods, hence enabling both parties, i.e. buyers and sellers, with bases in the negotiation process. As the study is primarily aimed at providing a framework for pricing put options on snow levels in general, it is expected that it would be of use not only for this particular ski resort but also for various ski resorts in the world. (C) 2009 Elsevier Ltd. All rights reserved.
Açıklama
Anahtar Kelimeler
Snow Options, Edgeworth Adjusted Density, Ski Resort, Turkish Tourism, Weather Derivatives
Kaynak
Tourism Management
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
31
Sayı
5
