William Joseph Hahn, PhD
2001-2005 The University of Texas, Austin, TX
PhD Management Science and Information Systems, 2005
Concentration: Decision Science
Minors: Computational Finance, Economics
Dissertation: A Discrete-Time Approach for Valuing Real Options with Underlying
Mean-Reverting Stochastic Processes
Advisor: James S. Dyer
1999-2001 The University of Texas, Austin, TX
1988-1991 The University of Texas, Austin, TX
M.S. Civil Engineering, 1991
1982-1988 The University of Texas, Austin, TX
B.S. Petroleum Engineering, 1988
2006-pres. Graziadio School of Business & Management, Pepperdine University, Malibu,
Assistant Professor, Decision Sciences
DESC 593 - Applied Data Analysis
DESC 603 - Quantitative Business Analysis
DESC 621 - Valuation of Real Options
DESC 698 – Multi-Criteria Decision Analysis
2001-2004 McCombs School of Business, The University of Texas, Austin, TX
Teaching Assistant, Department of MSIS
BA 380M - Mathematical Analysis and Computer Methods
MIS 383N - Valuation of Real Options
MSC 371H - Management Science (Undergraduate Honors Program)
Quantitative modeling of operational decision-making and its effect on asset value
especially for innovative and/or unconventional projects. Discrete-time modeling of stochastic processes
for commodity prices. Numerical techniques for solving decision analysis problems, including decision
models for problems with multiple conflicting criteria.
2005-2006 Shell Trading Gas and Power, Houston, TX
Market Analysis Manager
2001-2005 BP America, Houston, TX
Strategy & Planning Advisor
2000-2001 BP America, Houston, TX
Commercial Team Leader
1996-2000 Vastar Resources (now merged with BP), Houston, TX
Area Reservoir Engineer
1991-1996 ARCO Oil and Gas (now merged with BP), Bakersfield, CA and Houston, TX
A Discrete Time Approach for Modeling Two-Factor Mean-Reverting Stochastic Processes,
Decision Analysis, 2011.
Real Options: The Value Added through Optimal Decision Making, Graziadio Business Report, 13/2, 2010.
Perceived Effectiveness and Implementation of Public Relations Measurement and Evaluation Tools among
European Providers and Consumers of PR Services, Public Relations Review, 36/2, 105-111, 2010.
The Winner's Curse and Optimal Auction Bidding Strategies, Graziadio Business Report, 12/2, 2009.
Flexibility as a Source of Value in the Production of Alternative Fuels: The Ethanol Case, Energy Economics, 31,
The Role of Sugarcane-Based Ethanol in the Developing Global BioFuels Market. Dialogue/United States
Association for Energy Economics, 16/3, 27-30, 2008.
Discrete Time Modeling of Mean-Reverting Stochastic Processes for Real Option Valuation, European Journal of
Operations Research, 184/2, 534-548, 2008.
Using Decision Analysis to Solve Real Option Valuation Problems: Building a Generalized Approach, SPE
108006, Proceedings of the 2007 Hydrocarbon Economics and Evaluation Symposium, Dallas, TX (April, 2007).
Response to Comments on Brandao et al. (2005), Decision Analysis, 2, 103-109, 2005.
Using Binomial Trees to Solve Real Option Valuation Problems, Decision Analysis, 2, 69-88, 2005.
A Binomial Model for Mean Reverting Stochastic Processes: Application to Ethanol Industry
presented at the 2010 INFORMS Annual Meeting, Austin, TX (November 7, 2010).
Flexibility and Uncertainty in Agribusiness Projects: Investing in a Cogeneration Plant, presented at the 33rd
Annual International Association of Energy Economists Conference, Rio de Janeiro, Brazil (June 8, 2010).
The Winner's Curse and Developing Optimal Auction Bidding Strategies through Simulation, presented at the
2009 INFORMS Western Regional Meeting, Tempe, AZ (April 25, 2009).
Brazil's Energy Portfolio and the Value of Diversification, presented at the 2009 Latin American Conference on
Energy Economics, Santiago, Chile (March 24, 2009).
Flexibility as a Source of Value in the Production of Alternative Fuels, presented at the 2009 Latin American
Conference on Energy Economics, Santiago, Chile (March 24, 2009).
Investment Timing Under Competition: Effect of Stochastic Process Model, presented at the 2008 INFORMS
Annual Meeting, Washington, D.C. (October 15, 2008).
Modeling Switching Options using Mean-Reverting Commodity Price Models, Proceedings of the Eleventh
Annual International Conference on Real Options, Haas School of Business, University of California, Berkeley,
CA (June, 2007).
A Discrete-Time Approach for Valuing Real Options with Underlying Mean-Reverting Stochastic Processes,
presented at the Second Annual Mini-Conference on Integrated Risk Management in Operations and Global
Supply Chain Management, Olin School of Business, Washington University, St. Louis, MO (June, 2005).
Incorporating Mean-Reverting Price Forecasts into Oil and Gas Exploration and Production Project Valuation,
SPE 94577, presented at the 2005 Hydrocarbon Economics and Evaluation Symposium, Dallas, TX (April, 2005).
Robust Simulation Methods for Valuation of Real Options, presented at the 2003 INFORMS Annual Conference,
Atlanta, GA (October, 2003).
Separation of Market-Correlated and Private Uncertainties in Real Option Valuation, presented at the 2003
INFORMS Annual Conference, Atlanta, GA (October, 2003).
Howard A. White Award for Teaching Excellence, Pepperdine University, 2010
Bonham Fellowship, The University of Texas, 2005
University Continuing Fellowship, 2004-2005
University Preemptive Fellowship, 2001
Student Paper Award, INFORMS Decision Analysis Society, 2004
Kozmetsky Award for Outstanding Academic Achievement in University of Texas MBA Program, 2001
Beta Gamma Sigma, Business Honors Society, 2001
Chi Epsilon, Civil Engineering Honors Society, 1991
Institute for Operations Research and Management Science (INFORMS)
United States Association for Energy Economics (USAEE)
Registered Professional Engineer, States of CA and TX