Evaluating environmental investments: A real options approach

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dc.contributor.authorCortazar, G
dc.contributor.authorSchwartz, ES
dc.contributor.authorSalinas, M
dc.date.accessioned2024-01-10T12:38:46Z
dc.date.available2024-01-10T12:38:46Z
dc.date.issued1998
dc.description.abstractThe paper presents a model that determines when (at which output price level) it is optimum for a firm to invest in environmental technologies and which are the main parameters that affect this decision. Our analysis shows that firms require high output price levels to be induced to invest in environmental technologies, because they optimally would not want to commit to a heavy irreversible investment that could turn out to be unprofitable in the event of a price fall. A comparative static analysis predicts that firms in industries with high output price volatility would be more reluctant to invest in environmental protection technologies and would be more willing to operate at low output levels (thus attaining low emission levels). Increases in the interest rate would also reduce optimal environmental investment levels.
dc.fechaingreso.objetodigital2024-05-16
dc.format.extent12 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1287/mnsc.44.8.1059
dc.identifier.issn0025-1909
dc.identifier.urihttps://doi.org/10.1287/mnsc.44.8.1059
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/77097
dc.identifier.wosidWOS:000075653800004
dc.information.autorucIngeniería;Cortázar G;S/I;99516
dc.issue.numero8
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final1070
dc.pagina.inicio1059
dc.publisherINST OPERATIONS RESEARCH MANAGEMENT SCIENCES
dc.revistaMANAGEMENT SCIENCE
dc.rightsacceso restringido
dc.subjectreal options
dc.subjectenvironmental economics
dc.subjectcapital budgeting
dc.subjectnatural resources
dc.subject.ods08 Decent Work and Economic Growth
dc.subject.odspa08 Trabajo decente y crecimiento económico
dc.titleEvaluating environmental investments: A real options approach
dc.typeartículo
dc.volumen44
sipa.codpersvinculados99516
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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