An evolutionary real options framework for the design and management of projects and systems with complex real options and exercising conditions

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dc.contributor.authorZhang, Stephen X.
dc.contributor.authorBabovic, Vladan
dc.date.accessioned2024-01-10T12:37:34Z
dc.date.available2024-01-10T12:37:34Z
dc.date.issued2011
dc.description.abstractTo address the issue of decision support for designing and managing flexible projects and systems in the face of uncertainties, this paper integrates real options valuation, decision analysis techniques, Monte Carlo simulations and evolutionary algorithms in an evolutionary real options framework. The proposed evolutionary real options framework searches for an optimized portfolio of real options and makes adaptive plans to cope with uncertainties as the future unfolds. Exemplified through a test case, the evolutionary framework not only compares favorably with traditional fixed design approaches but also delivers considerable improvements over prevailing real options practices. (C) 2010 Elsevier B.V. All rights reserved.
dc.description.funderSingapore-Delft Water Alliance (SDWA)
dc.description.funderDefense Science and Technology Agency of Singapore
dc.description.funderAcademic Research Fund
dc.fechaingreso.objetodigital2024-04-09
dc.format.extent11 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.dss.2010.12.001
dc.identifier.issn0167-9236
dc.identifier.urihttps://doi.org/10.1016/j.dss.2010.12.001
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76876
dc.identifier.wosidWOS:000288519200012
dc.information.autorucIngeniería;Zhang S;S/I;1009000
dc.issue.numero1
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final129
dc.pagina.inicio119
dc.publisherELSEVIER SCIENCE BV
dc.revistaDECISION SUPPORT SYSTEMS
dc.rightsacceso restringido
dc.subjectUncertainty
dc.subjectDecision support
dc.subjectEvolutionary algorithms
dc.subjectDynamic strategic planning
dc.subjectFlexible design
dc.subjectRESEARCH-AND-DEVELOPMENT
dc.subjectGROWTH OPTIONS
dc.subjectINVESTMENTS
dc.subjectRISK
dc.subjectFLEXIBILITY
dc.subjectSTRATEGIES
dc.subjectINFRASTRUCTURES
dc.subjectVALUATION
dc.subjectSCENARIOS
dc.subjectCHOICE
dc.subject.ods13 Climate Action
dc.subject.odspa13 Acción por el clima
dc.titleAn evolutionary real options framework for the design and management of projects and systems with complex real options and exercising conditions
dc.typeartículo
dc.volumen51
sipa.codpersvinculados1009000
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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