Long-term risk management of nuclear waste : a real options approach

In this paper, we investigate the optimal timing for deep geological disposal of nuclear waste. Our model is based on the real options approach to investment under uncertainty. In this context, the problem is similar to the optimal exercise policy for a perpetual American spread option. The potential usefulness of such a model for actual decision-making on a sensitive issue is illustrated by some numerical simulations.

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Year of publication:	2001-04-01
Authors:	CHESNEY, Marc ; LOUBERGE, Henri ; VILLENEUVE, Stéphane
Institutions:	HEC Paris (École des Hautes Études Commerciales)
Subject:	risk management \| optimal stopping \| real and American options

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Extent:	application/pdf
Series:	Les Cahiers de Recherche.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series Les Cahiers de Recherche - Groupe HEC Number 767 22 pages
Classification:	C53 - Forecasting and Other Model Applications ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005011563