Optimal Clean Energy R&D Investments Under Uncertainty
نویسندگان
چکیده
منابع مشابه
Optimal Decision-Making under Uncertainty - Application to Power Transmission Investments
Investment could be defined as the act of incurring immediate costs with the expectation of future returns. An investment project, as every asset has a value. Thus, for successfully investing in and managing these assets is crucial not only recognizing what the value is but also the sources of this value (Damodaran, 2002). Most investment decisions share three important characteristics in diffe...
متن کاملDuality Theory for Optimal Investments under Model Uncertainty
Robust utility functionals arise as numerical representations of investor preferences, when the investor is uncertain about the underlying probabilistic model and averse against both risk and model uncertainty. In this paper, we study the the duality theory for the problem of maximizing the robust utility of the terminal wealth in a general incomplete market model. We also allow for very genera...
متن کاملElectricity Technology Investments Under Solar RD&D Uncertainty: How Interim Learning and Adaptation Affect the Optimal Decision Strategy
The authors of this report invite use of this information for educational purposes, requiring only that the reproduced material clearly cite the full source: Santen, Nidhi R. and Laura Diaz Anadon. " Electricity technology investments under solar RD&D uncertainty: How interim learning and adaptation affect the optimal decision strategy. Cover image: The largest photovoltaic solar power plant in...
متن کاملValuation of Long-Term Investments in Energy Assets under Uncertainty
This paper aims to contribute to the development of valuation models for long-term investments while keeping an eye on market prices. The adopted methodology is rooted on the existence of markets for futures and options on commodities related to energy investments. These markets are getting ever-increasingly liquid with ever-longer maturities while trading contracts. We discuss the advantages o...
متن کاملUncertainty and energy saving investments
Energy costs are notoriously uncertain but what is the effect of this on energysaving investments? We find that real-option frictions imply a novel equilibrium response to increasing but uncertain energy costs: early investments are cautious but ultimately real-option frictions endogenously vanish, and the activity affected by higher energy costs fully recovers. We use electricity market data f...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.2947610