Similar Search Results

Biofuels and food prices: Searching for the causal link

Bastianin, Andrea; Galeotti, Marzio; Manera, Matteo - 2013

We analyze the relationship between the prices of ethanol, agricultural commodities and livestock in Nebraska, the U ….S. second largest ethanol producer. The paper focuses on long-run relations and Granger causality linkages between ethanol and …-of-sample predictive ability. Even after taking breaks into account, evidence that the price of ethanol drives the price dynamics of the …

Persistent link: https://www.econbiz.de/10010294304

Food versus fuel: Causality and predictability in distribution

Bastianin, Andrea; Galeotti, Marzio; Manera, Matteo - 2013

ethanol and agricultural price returns, little is known about their whole distributions. We focus on predictability in … distribution by asking whether ethanol returns can be used to forecast different parts of field crops returns distribution, or vice … to the analyst. Results show that both the centre and the left tail of the ethanol returns distribution can be predicted …

Persistent link: https://www.econbiz.de/10010294308

Biofuel economics in a setting of multiple objectives & unintended consequences

Jaeger, William K.; Egelkraut, Thorsten M. - 2011

ethanol production for 2025 reduces U.S. petroleum input use by 1.75%, and would have negligible net effects on CO2 emissions …; and although EU imports of Brazilian ethanol may look better given the high costs of other alternatives, this option is …

Persistent link: https://www.econbiz.de/10010279479

Flexible waste management under uncertainty

Di Corato, Luca; Montinari, Natalia - 2013

In this paper, we use stochastic dynamic programming to model the choice of a municipality which has to design an optimal waste management program under uncertainty about the price of recyclables in the secondary market. The municipality can, by undertaking an irreversible investment, adopt a...

Persistent link: https://www.econbiz.de/10010294289

Time overruns as opportunistic behavior in public procurement

D'Alpaos, Chiara; Moretto, Michele; Valbonesi, Paola; … - 2012

This paper considers the supplier's strategic delivery lead time in a public procurement setting as the result of the firm's opportunistic behaviour on the optimal investment timing. In the presence of uncertainty on construction costs, we model the supplier's option to defer the contract's...

Persistent link: https://www.econbiz.de/10010294334

Investment in Hospital Care Technology under Different Purchasing Rules: A Real Option Approach

Moretto, Michele; Levaggi, Rosella - 2004

In this article, we analyse the optimal investment decision in a new health care technology of a representative hospital that maximises its surplus in an uncertain environment. The new technology allows the hospital to increase the quality level of the care provided, but the investment is...

Persistent link: https://www.econbiz.de/10011324946

Competition and Irreversible Investments under Uncertainty

Moretto, Michele - 2003

This paper examines the effect of competition on the irreversible investment decisions under uncertainty as a generalization of the "real option" approach. We examine this issue with reference to an industry where each firm has only one investment opportunity which is completely irreversible and...

Persistent link: https://www.econbiz.de/10011325060

Investment Size and Firm's Value Under Profit Sharing Regulation

Moretto, Michele; Panteghini, Paolo M.; Scarpa, Carlo - 2003

In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm's investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm's start-up decision relative to a pure price cap...

Persistent link: https://www.econbiz.de/10011325118

Investing in Photovoltaics: Timing, Plant Sizing and Smart Grids Flexibility

Bertolini, Marina; D'Alpaos, Chiara; Moretto, Michele - 2016

In Italy and in many EU countries, the last decade was characterized by a large development of distributed generation power plants. Their presence determined new critical issues for the design and management of the overall energy system and the electric grid due to the presence of discontinuous...

Persistent link: https://www.econbiz.de/10011586852

Comments on the investment-uncertainty relationship in a real option model

Cappuccio, Nunzio; Moretto, Michele - 2001

The paper considers the problem of evaluating the probability of investing in a capital-investment project as a measure of the uncertainty-investment relationship in a real option model. By the use of the contingent claims analysis the opportunity to invest is modelled as an American call option...

Persistent link: https://www.econbiz.de/10011608790