Real options analysis is being increasingly used as a tool to evaluate investments under uncertainty; however, traditional real options methodologies have some shortcomings that limit their utility, such as the use of the geometric Brownian motion to model the value of the underlying asset and...

Aviation is a critical component of the global economic infrastructure. If there is to be growth in aviation, however, the environmental impacts of aviation must be mitigated. While the benefits of advanced noise abatement procedures have been recognized, the primary obstacle to the...