Gentlemen:

Amit is a former MIT Sloan student whose research was sponsored by a program 
set up by Tom Gros to learn more about bandwidth pricing and market effects.  
We worked with him quite a bit for a while, as did Vince Kaminski and Stinson 
Gibner, on this project.  Well, he has finally graduated and is in the 
process of having his thesis published.  He has offered to come down to 
present his findings to anyone interested, so I am inquiring as to your level 
of interest in order to schedule a meeting, if appropriate.

Below is a short description of his work.  Please let me know your thoughts 
and if you have any questions.

Thanks, Jay.
--
James F. Hawthorn
Enron Broadband Services
Global Bandwidth Risk Management
+1 713 853 7606 Telephone
+1 713 646 8795 Facsimile
<mailto:jay_hawthorn@enron.net>

----- Forwarded by Jay Hawthorn/Enron Communications on 03/29/01 09:15 AM 
-----

	adhadwal@mit.edu
	03/20/01 03:50 PM
		 
		 To: Jay Hawthorn/Enron Communications@Enron Communications, adhadwal@mit.edu
		 cc: 
		 Subject: 



Hi Jay,

As per our discussion this morning, will be terrific to come on down to talk 
about the results of my Thesis related to pricing & risk management of 
forward contracts on bandwidths.  Thanks to the support from Enron for this 
work !


Here's a brief description.


We addressed the problem of pricing and risk managment of forward contracts 
on bandwidth under uncertain future available supply.  This exposes the 
seller to both the risk of perishability as well as the risk of 
overcommitments.  We consider a variety of selling strategies to map 
commitment risk, and show how forward pricing varies over time under these 
strategies. The managerial insights into dynamic forward pricing are neat !  
Have several graphs from simulations, and several math proofs.

There are two technical pricing papers from this thesis, now submitted for 
publication.  It will be great to share this knowledge with Enron, thanks to 
your support for the work, and also discuss how the results may be mapped 
with real-life, possible modifications, and finally how they may be 
programmed and used.

Let me know your thoughts and interest level - maybe someone from Vince's 
group as well ?  I can make the talk as technical as you want, depending on 
the audience. At its core, it is Math-heavy, but the insights can easily be 
translated to a high-managerial level view, a more detailed trader-level 
view, or a super-detailed research level view.

Cheers,

-Amit