Homepage of Bjarne Munkerod Andersen


Diving / Great Barrier Reef / Australia 2007

Climbing / Hyana Potosi 6088m / Bolivia 2008



I handed in my thesis: "Real Options in a dynamic asset pricing model with stochastic asset prices and interest rates" (written in English), at the University of Aarhus, Denmark in May 1999.


View abstract (English)


View full version .pdf (English) (10,6 Mb - will take a little time to load)



In April 1998 I handed in a seminar on "Neural Networks as non-linear estimators in a GARCH-simulated CAPM-model" (written in Danish).


View abstract in English


Download full version in Danish (190KB self-extracting .exe) 


Neural Network Backgammon Program

Having experimented somewhat more with neural networks than just the above seminar, I have also conceived a rough but reasonably playing backgammon program which has learned backgammon by playing about 1.5 million games against itself. This program, which has a rough but effective graphical user interface programmed in Delphi 3.0, is available through:


Download NN-BG Ver. 1.10 Beta (890KB self-extracting .exe)


Any comments on the actual play of the program and on the user interface will be greatly appreciated on the below e-mail address.


Check the direct marketing and other activities we are engaging in as of early 2010 on our company web page:


ValeBox - um conceito de marketing fisico / a physical marketing product.

ValeJunto - un conceito na rede baseado em compra coletiva / an internet concept based on a group purchasing model

Babugo - uma loja virtual para bebes / an internet shop for baby products.


In case of troubles with the above files, or if I can be of any help in other respects, please don't hesitate to contact me on the below address.


/Bjarne Munkerod Andersen