This work attempts to measure the direction and size of misrepresentation in the answers to referendum type contingent valuation (CV). In a laboratory experiment simulating a simple public project, participants are asked to reveal, by means of a CV procedure, their induced Willingness To Pay (WTP) for this project. The results of the experiment indicate that, at least in a symmetric environment...

Compound real options are combinations of real options, where an exercise of a real option opens another real option. Compound real options are commonly found in a number of industrial projects, but are especially relevant in, e.g., research and development (R&D) where the R&D projects give the real option to research further, or to start the implementation of the results. Valuation of compound...

We survey and extend recent work on integrally closed overrings of two-dimensional Noetherian domains, where such overrings are viewed as intersections of valuation overrings. Of particular interest are the cases where the domain can be represented uniquely by an irredundant intersection of valuation rings, and when the valuation rings can be chosen from a Noetherian subspace of the Zariski-Rie...

There are numerous reasons to apply the cost approach to the valuation of an intangible asset. Before applying this valuation approach, the valuation analyst should be familiar with the generally accepted cost approach methods and procedures. In addition, the valuation analyst should have sufficient data to measure (1) the intangible asset cost components and (2) the intangible asset obsolescen...

Valuation networks have been proposed as graphical representations of valuation-based systems (VBSs). The VBS framework is able to capture many uncertainty calculi including probability theory, Dempster-Shafer’s belief-function theory, Spohn’s epistemic belief theory, and Zadeh’s possibility theory. In this paper, we show how valuation networks encode conditional independence relations. For the...

Proposition algebra is based on Hoare’s conditional connective, which is a ternary connective comparable to if-then-else and used in the setting of propositional logic. Conditional statements are provided with a simple semantics that is based on evaluation trees and that characterizes so-called free valuation congruence: two conditional statements are free valuation congruent if, and only if, t...

RAP (Rapid Assessment Program) is a user-friendly and lightweight software implementation of a methodology for rapid, integrated policy analysis. Areas of application for RAP are virtually unlimited but have so far been mainly focussed on water resources management and scenario development in environmental engineering. Using an attractive visual interface, RAP takes its user through the steps i...