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High Speed rail transport valuation and conjuncture shocks

dc.contributor.authorCouto, Gualter
dc.contributor.authorNunes, Cláudia
dc.contributor.authorPimentel, Pedro
dc.date.accessioned2019-01-25T10:28:34Z
dc.date.available2019-01-25T10:28:34Z
dc.date.issued2011-01
dc.description.abstractIn the present paper we derive the optimal investment policy of investment in the high speed rail (HSR) project, under uncertainty, using the real options analysis (ROA) framework. We assume that the HSR demand, the main source of uncertainty, follows a geometric brownian motion with random jumps, complying with abrupt change of level caused by random events. The occurrence of such events is caused by external shocks. We assess the impact of these shocks in the HSR demand threshold, along with the investment opportunity value, and the option to differ. We consider several distributions for these jumps, and we compare with the base-line case (where exogeneous jumps are not considered).en
dc.description.versionN/Apt_PT
dc.identifier.citationCouto, Gualter; Nunes, Cláudia; Pimentel, Pedro (2011). High Speed rail transport valuation and conjuncture shocks, “Working Paper Series”, nº 4/11, 15 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.pt_PT
dc.identifier.urihttp://hdl.handle.net/10400.3/4975
dc.language.isoengpt_PT
dc.publisherUniversidade dos Açorespt_PT
dc.subjectHigh Speed Rateen
dc.subjectInvestmenten
dc.subjectReal Optionsen
dc.subjectUncertainty Timingen
dc.titleHigh Speed rail transport valuation and conjuncture shocksen
dc.typeworking paper
dspace.entity.typePublication
oaire.citation.conferencePlacePonta Delgada, Açorespt_PT
oaire.citation.endPage15pt_PT
oaire.citation.startPage1pt_PT
oaire.citation.titleCEEAplA-A - Working Paper Seriespt_PT
person.familyNameCouto
person.familyNamePimentel
person.givenNameGualter
person.givenNamePedro
person.identifier.ciencia-id9812-2946-E06F
person.identifier.ciencia-id9C19-6CDD-AF3E
person.identifier.orcid0000-0001-5560-5101
person.identifier.orcid0000-0003-1056-0338
person.identifier.ridM-4559-2013
person.identifier.scopus-author-id36023223200
person.identifier.scopus-author-id54930676400
rcaap.rightsopenAccesspt_PT
rcaap.typeworkingPaperpt_PT
relation.isAuthorOfPublication28d3b5ee-22cb-4f02-b3ff-87efdcc43be9
relation.isAuthorOfPublicationaace72bf-d0f1-44b0-bc6e-689ca3dc03f7
relation.isAuthorOfPublication.latestForDiscovery28d3b5ee-22cb-4f02-b3ff-87efdcc43be9

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