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dc.creatorPringles, Rolando Marcelo-
dc.creatorOlsina, Fernando Gabriel-
dc.creatorGarces, Francisco Felipe-
dc.date2018-07-03T15:12:21Z-
dc.date2018-07-03T15:12:21Z-
dc.date2015-01-
dc.date2018-07-03T13:52:58Z-
dc.date.accessioned2019-04-29T15:48:24Z-
dc.date.available2019-04-29T15:48:24Z-
dc.date.issued2015-01-
dc.identifierPringles, Rolando Marcelo; Olsina, Fernando Gabriel; Garces, Francisco Felipe; Real option valuation of power transmission investments by stochastic simulation; Elsevier; Energy Economics; 47; 1-2015; 215-226-
dc.identifier0140-9883-
dc.identifierhttp://hdl.handle.net/11336/51014-
dc.identifierCONICET Digital-
dc.identifierCONICET-
dc.identifier.urihttp://rodna.bn.gov.ar:8080/jspui/handle/bnmm/302545-
dc.descriptionNetwork expansions in power markets usually lead to investment decisions subject to substantial irreversibility and uncertainty. Hence, investors need valuing the flexibility to change decisions as uncertainty unfolds progressively. Real option analysis is an advanced valuation technique that enables planners to take advantage of market opportunities while preventing or mitigating losses if future conditions evolve unfavorably. In the past, many approaches for valuing real options have been developed. However, applying these methods to value transmission projects is often inappropriate as revenue cash flows are path-dependent and affected by a myriad of uncertain variables. In this work, a valuation technique based on stochastic simulation and recursive dynamic programming, called Least-Square Monte Carlo, is applied to properly value the deferral option in a transmission investment. The effect of option's maturity, the initial outlay and the capital cost upon the value of the postponement option is investigated. Finally, sensitivity analysis determines optimal decision regions to execute, postpone or reject the investment projects.-
dc.descriptionFil: Pringles, Rolando Marcelo. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energía Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energía Eléctrica; Argentina-
dc.descriptionFil: Olsina, Fernando Gabriel. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energía Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energía Eléctrica; Argentina-
dc.descriptionFil: Garces, Francisco Felipe. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energía Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energía Eléctrica; Argentina-
dc.formatapplication/pdf-
dc.formatapplication/pdf-
dc.formatapplication/pdf-
dc.languageeng-
dc.publisherElsevier-
dc.relationinfo:eu-repo/semantics/altIdentifier/doi/https://dx.doi.org/10.1016/j.eneco.2014.11.011-
dc.relationinfo:eu-repo/semantics/altIdentifier/url/https://www.sciencedirect.com/science/article/pii/S0140988314002965-
dc.rightsinfo:eu-repo/semantics/restrictedAccess-
dc.rightshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/-
dc.sourcereponame:CONICET Digital (CONICET)-
dc.sourceinstname:Consejo Nacional de Investigaciones Científicas y Técnicas-
dc.sourceinstacron:CONICET-
dc.subjectFLEXIBILITY-
dc.subjectINVESTMENTS-
dc.subjectMONTE CARLO-
dc.subjectPOWER NETWORK-
dc.subjectREAL OPTIONS-
dc.subjectUNCERTAINTY-
dc.subjectIngeniería de Sistemas y Comunicaciones-
dc.subjectIngeniería Eléctrica, Ingeniería Electrónica e Ingeniería de la Información-
dc.subjectINGENIERÍAS Y TECNOLOGÍAS-
dc.titleReal option valuation of power transmission investments by stochastic simulation-
dc.typeinfo:eu-repo/semantics/article-
dc.typeinfo:eu-repo/semantics/publishedVersion-
dc.typeinfo:ar-repo/semantics/articulo-
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