CHAPTER 1 Real Option— The Evolution of an option represents freedom of choice, after the revelation of information. An option is the act of choosing, the power of choice, or the freedom of alternatives. The word comes from the medieval French and is derived from the Latin optio, optare, meaning to choose, to wish, to desire. | WILEY FINANCE MARION A. BRACH r Xíá r á in practice Founded in 1807 John Wiley Sons is the oldest independent publishing company in the United States. With offices in North America Europe Australia and Asia Wiley is globally committed to developing and marketing print and electronic products and services for our customers professional and personal knowledge and understanding. The Wiley Finance series contains books written specifically for finance and investment professionals as well as sophisticated individual investors and their financial advisors. Book topics range from portfolio management to e-commerce risk management financial engineering valuation and financial instrument analysis as well as much more. For a list of available titles please visit our Web site at .
