In this paper, we contribute to the literature by including a knock-out barrier option in a compound real option model to take account of immediate project failure, a so-called sudden death. We apply the model to the case of hydrogen infrastructure development. In our case study, we find that...

In the solid desiccant wheel air-conditioning system, the performance of the desiccant wheel is critical to the capability, size and cost of the whole system. Constructing mathematical model is an effective method for analyzing the performance of the rotary wheel as well as the system. The model...