Purpose – The aim of this paper is to introduce uncertainty analysis within an environmentally extended input‐output technological model of life cycle costing. The application of this approach will be illustrated with reference to the ceramic floor tiles manufacturing process....

Purpose The purpose of this paper is to investigate the impact of bias error resulted from using Monte Carlo simulation in evaluating the American-style option value. Design/methodology/approach The authors develop an analytical approximation formula to quantify the bias error under the...