La presente investigación tiene como objetivo principal desarrollar un análisis de toma de decisiones bajo incertidumbre a través de la aplicación de opciones reales en la evaluación de inversiones en proyectos mineros. Asimismo, se propone estudiar el comportamiento de los precios del oro,...

This study has as its main objective to develop an analysis of decision making under uncertainty using the real options application in the evaluation of investments in mining projects. It is also proposed to study the behaviour of gold prices, for the specific case of Peru, using historic prices...

Although many economic variables of interest exhibit a tendency to revert to long-run levels, mean reverting processes are rarely used in investment and disinvestment models in the literature. Previous work by Sarkar (J Econ Dyn Control 28(2):377–396, <CitationRef CitationID="CR34">2003</CitationRef>), that focuses on irreversible entry...</citationref>

This paper examines the effect of irreversibility on investment under mean reversion. We develop a continuous-time model wherein a risk-neutral firm is endowed with a perpetual option to invest in a project at any time by incurring a fixed investment cost at that instant. The project, once...

It is well known that the profitability within the process industry is heavily dependent upon the degree of utilisation of the plants. Utilisation, in turn, is dependent upon the often very volatile market conditions for the commodity produced. <p> This paper examines the implications for capital...</p>

The aim of this book is to document, on a solid and convincing foundation, two public policy mistakes of the United States Government that have been extremely costly. First, the failure to combine stocks with long-term government bonds in the Social Security Trust Fund, the way other nations do,...