Elements of the decision prob: Decisions to make; Uncertain events; Value of specific outcomes/ Influence Diagrams: graphical representation of uncertain quantities and decisions that explicitly reveals probabilistic dependence and the flow of information/ Arcs: Decision: information flow& the chronological order. Arcsvalue&chance: conditional and show probabilistic dependence between decision elements. A->B: B is conditioned on the value of A/ Sensitivity analysis: relative impact of

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Marketing 1

marketing – The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. 

Deliver genuine value.

Discover the needs and wants of prospective customers and satisfy them.
exchange – the trade of things of value between a buyer and a seller so that each is better off after the trade
4 Factors of Marketing – (1) two or more parties (individuals or organizations) with unsatisfied

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call put parity

Binary or digital options have a payoff at expiry that is discontinuous in the underlying asset price. 

For example, a binary call pays some quantity (for example, 1 euro) at maturity time, if the asset price is then greater than the exercise price K (for example K=100).  

Why would you invest in a binary call? Assume you think that the asset price will rise by expiry. 

To finish above the strike price then we can choose to buy either a vanilla call or a binary call. 

The vanilla call has the best

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5.1. Needs of Capital

Finance = Capital = Money

Main reasons why businesses need finance:

o To start up a business: the money needed to buy the

essential assets to start trading is the start-up capital

o To expand the business

o To increase working capital

• Working capital – money needed to pay day-to-day costs

There are 2 types of finance needs:

o Short-Term Finance Needs:

Finance needs to pay things that last less than a year,


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Throughout history, many leaders have impacted their countries and the world around them. Adolf Hitler and Benito Mussolini are two brutal yet significant leaders who came to power in their nations during a time of inflation, depression, and devastation. They shared movements that were typical of National Socialism: they adopted a radical nationalism, militaristic hierarchies, violence, the cult of charismatic leadership, contempt for individual liberties and civil rights, an anti-democratic and

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The Mercantilists, 1500-1800

make few imports and many exports, thereby generating a net inflow of foreign exchange and maximizing the country’s gold stocks

▪ The world’s wealth was fixed ▪ Gain from trade at the expense of trading partners

Adam Smith: ▪ World’s wealth is not a fixed quantity ▪ All countries can benefit from international trade

Principle of

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