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Competition and Irreversible Investments under Uncertainty

Moretto, Michele - Fondazione ENI Enrico Mattei (FEEM) - 2003

This paper examines the effect of competition on the irreversible investment decisions under uncertainty as a …

Persistent link: https://www.econbiz.de/10005570363

Land-use Change and Solar Energy Production: A Real Option Approach

Gazheli, Ardjan; Corato, Luca Di - Fondazione ENI Enrico Mattei (FEEM) - 2011

In this paper a real option model is developed to examine the critical factors affecting the decision to lease agricultural land to a company installing a PV power plant. The leasing payment is certain while the net revenues from agriculture are uncertain. We identify the profit values at which...

Persistent link: https://www.econbiz.de/10009421231

Uncertainty in Integrated Assessment Models of Climate Change: Alternative Analytical Approaches

Golub, Alexander; Narita, Daiju - Fondazione ENI Enrico Mattei (FEEM) - 2011

Uncertainty plays a key role in the economics of climate change, and the discussions surrounding its implications for … climate policy are far from settled. We give an overview of the literature on uncertainty in integrated assessment models of … complementary approaches that model uncertainty in association with integrated assessment models: the discrete uncertainty modeling …

Persistent link: https://www.econbiz.de/10008828410

Firm Regulation and Profit-Sharing: A Real Option Approach

Moretto, Michele; Valbonese, Paola - Fondazione ENI Enrico Mattei (FEEM) - 2006

To avoid high profit levels often experienced in countries where monopolies in public utility sectors are regulated through price-cap mechanisms, several regulatory agencies have recently introduced profit-sharing (PS) clauses aimed at obtaining price reductions to the benefit of consumers....

Persistent link: https://www.econbiz.de/10005385418

Optimal Conservation Policy Under Imperfect Intergenerational Altruism

Corato, Luca Di - Fondazione ENI Enrico Mattei (FEEM) - 2011

uncertainty about future pay-offs we determine, as solution of an intergenerational dynamic game, the optimal timing of …

Persistent link: https://www.econbiz.de/10009421232

An Evaluation of Overseas Oil Investment Projects under Uncertainty Using a Real Options Based Simulation Model

Zhu, Lei; Zhang, ZhongXiang; Fan, Ying - Fondazione ENI Enrico Mattei (FEEM) - 2011

small sized oil fields are more sensitive to changes in the uncertainty factors than the large and medium sized oil fields …. Furthermore, among the uncertainty factors considered in the model, the investment risk of overseas oil investment may be …

Persistent link: https://www.econbiz.de/10009421246

Procurement with Unenforceable Contract Time and the Law of Liquidated Damages

Dosi, Cesare; Moretto, Michele - Fondazione ENI Enrico Mattei (FEEM) - 2012

Time overruns are common in public works and are not confined to inherently complex tasks. One explanation advanced in this paper is that bidders can undergo unpredictable changes in production costs which generate an option value of waiting. By exploiting the real-option approach, we examine...

Persistent link: https://www.econbiz.de/10010555588

Farmland Investments in Africa: What’s the Deal?

Corato, Luca Di; Hess, Sebastian - Fondazione ENI Enrico Mattei (FEEM) - 2014

Large-scale foreign investments in African farmland are rising and may contribute to agricultural productivity growth and economic development. However, host countries sometimes have to wait longer for the economic benefits to arrive than initially expected. In this respect, the timing of...

Persistent link: https://www.econbiz.de/10010833904

Flexible Waste Management under Uncertainty

Corato, Luca Di; Montinari, Natalia - Fondazione ENI Enrico Mattei (FEEM) - 2013

optimal waste management program under uncertainty about the price of recyclables in the secondary market. The municipality …

Persistent link: https://www.econbiz.de/10010833944

Time Overruns as Opportunistic Behavior in Public Procurement

Chiara D’Alpaos; Moretto, Michele; Valbonesi, Paola; … - Fondazione ENI Enrico Mattei (FEEM) - 2012

firm’s opportunistic behaviour on the optimal investment timing. In the presence of uncertainty on construction costs, we …

Persistent link: https://www.econbiz.de/10010603773