| 来源类型 | FEEM working papers "Note di lavoro" series |
| 规范类型 | 论文 |
| The Value of Flexibility in the Italian Water Service Sector: A Real Option Analysis | |
| Michele Moretto; Chiara D'Alpaos | |
| 发表日期 | 2004 |
| 出处 | Climate Change and Sustainable Development |
| 出版年 | 2004 |
| 语种 | 英语 |
| 摘要 | We analyze the optimal investment strategy of a monopolist which has subscribed a concession contract to provide a public utility, i.e. water service. We present a strategic model in which a monopolist chooses both the timing of the investment and the capacity. We focus not only on the value of the immediate investment, but rather on the value of the investment opportunity. We then extend the model to two interdependent projects, where investing in the first project provides the opportunity to acquire the benefits of the new investment by making a new outlay. We show that flexibility to defer an investment may generate, ceteris paribus, additional profits which may induce positive effects in terms of policy and consumers surplus. |
| 特色分类 | D81,G31,L95 |
| 关键词 | Irreversible investment,Flexibility to defer,Capacity expansion choice |
| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/the-value-of-flexibility-in-the-italian-water-service-sector-a-real-option-analysis/ |
| 来源智库 | Fondazione Eni Enrico Mattei (Italy) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/117091 |
| 推荐引用方式 GB/T 7714 | Michele Moretto,Chiara D'Alpaos. The Value of Flexibility in the Italian Water Service Sector: A Real Option Analysis. 2004. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL2004-140.pdf（973KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
