CEEAplA Working Paper Series 2012
Permanent URI for this collection
Browse
Browsing CEEAplA Working Paper Series 2012 by Author "Nunes, Cláudia"
Now showing 1 - 1 of 1
Results Per Page
Sort Options
- Introducing random investment in high speed rail transport valuationPublication . Couto, Gualter; Nunes, Cláudia; Pimentel, PedroIn this paper, we extend Couto et al. (2012) high-speed rail (HSR) transport valuation model based on real options analysis, in order to embrace random investment. Optimal timing to invest, value of the option to defer and investment opportunity value are assessed considering uncertainty upon HSR demand and investment expenditures, both following a geometric Brownian motion with jumps driven by Poisson processes. Numerical results presented, showing the consistence with the former model and the additional uncertainty impact.