Mondher Bellalah is Professor of Financial Economics at the Universities of Cergy, THEMA and Paris-Dauphine. He is engaged in financial engineering and corporate finance activities. He has published seven books in French and English about financial markets and corporate finance, and articles in the Journal of Futures Markets, Financial Review, International Journal of Finance, International Journal of Economics and Finance, and R&D Management.

(bellalah@u-cergy.fr)

Nicholas Biekpe is currently an Associate Professor of Finance and Statistics at the University of Stellenbosch Business School and a visiting Professor at the University of Salford. He was educated at the University of Science and Technology (Ghana), University of London and the Queen's University of Belfast and has taught statistics, econometrics and finance for several years. Professor Biekpe has research interests in the use of stochastic calculus in finance.

(nbiekpe@acia.sun.ac.za)

Jaime Casassus is a Lecturer of Finance at the Pontificia Universidad Cat lica de Chile and earned an MSc degree from Carnegie Mellon University, where he is currently a PhD student. He has done research and consulting in real options for several years. His publications include articles in R&D Management and Quarterly Review of Economics and Finance.

(jaimec@andrew.cmu.edu)

Gonzalo Cortazar is Professor of Finance at the Pontificia Universidad Catolica de Chile and holds MBA, MA and PhD degrees from UCLA. He has taught finance and derivatives for over a decade at the undergraduate, graduate and executive education levels and has consulted extensively in real options. Selected publications include...