Investment decisions with flexibility under uncertainty in the competitive electricity supply industry
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Our contemporary condition, governed by the abstract apparatus of the capitalist market, demands a critical reading of the distribution, ownership, and use of common resources, especially on an island that has experienced a long history of privatization st ...
The need to evaluate natural resource investments under uncertainty has given rise to the development of real options valuation; however, the analysis of such investments has been restricted by the capabilities of existing valuation approaches. We re-visit ...
We investigate the willingness of individuals to persist at exploration in the face of failure. Prior research suggests that the organization's "tolerance for failure" may motivate greater exploration by the individual. Little is known, however, about how ...
We investigate equilibrium debt dynamics for a firm that cannot commit to a future debt policy and is subject to a fixed restructuring cost. We formally characterize equilibria when the firm is not required to repurchase outstanding debt prior to issuing a ...
This thesis consists of three chapters on informational frictions in financial markets. The chapters analyze problems related to markets' ability to guide real investment, and what drives liquidity. Both problems are important to ensure efficient resource ...
This work focuses on the economic performance and environmental assessment of two biorefinery schemes using 100 t/day of olive tree pruning waste as feedstock. The first scheme is based on a multiproduct biorefinery producing 6363.64 m3/yr of ethanol, 999. ...
The COVID-19 pandemic has demonstrated the importance and value of multi-period asset allocation strategies responding to rapid changes in market behavior. In this article, we formulate and solve a multi-stage stochastic optimization problem, choosing the ...
The SARS-CoV-2 outburst in March 2020 has led to the lockdown of several countries across the world. Mobility restrictions have been constantly put into action and reversed to find the trade-off between minimizing the number of infections and death and mit ...
Considering the sequential clearing of energy and reserves in Europe, enabling inter-area reserve exchange requires optimally allocating inter-area transmission capacities between these two markets. To achieve this, we provide a market-based allocation fra ...
Accounting for a fourth of the CO2 emissions and total energy consumption in Switzerland (IEA, 2018), housing plays a crucial role in the transition towards the sustainability of urban systems. Although new technologies have been developed to tackle the en ...