Interim Report IR - 04 - 077 Investment under Multiple Uncertainties : The Case of Future Pulp and Paper Mills

نویسنده

  • Sten Nilsson
چکیده

In this paper we seek to enhance decision making of investments under multiple uncertainties. We assess optimal commitment strategies for future reference of pulp and paper mills given stochastically correlated processes of one input and two output prices. The price processes are consistent with shadow price trajectories of a large scale global energy model. For the detailed engineering model, we developed a frugal forward stochastic optimization procedure to derive optimal commitment strategies.

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تاریخ انتشار 2005