Introducing random investment in high speed rail transport valuation

Detalhes bibliográficos
Autor(a) principal: Couto, Gualter
Data de Publicação: 2012
Outros Autores: Nunes, Cláudia, Pimentel, Pedro
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.3/5043
Resumo: In 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.
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spelling Introducing random investment in high speed rail transport valuationHigh-Speed RailTransport ValuationIn 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.Universidade dos AçoresRepositório da Universidade dos AçoresCouto, GualterNunes, CláudiaPimentel, Pedro2019-03-20T18:56:00Z2012-112012-11-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.3/5043engCouto, Gualter; Nunes, Cláudia; Pimentel, Pedro (2012). Introducing random investment in high speed rail transport valuation, “Working Paper Series” nº 9/12, 17 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-12-20T14:33:19Zoai:repositorio.uac.pt:10400.3/5043Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:27:20.145646Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Introducing random investment in high speed rail transport valuation
title Introducing random investment in high speed rail transport valuation
spellingShingle Introducing random investment in high speed rail transport valuation
Couto, Gualter
High-Speed Rail
Transport Valuation
title_short Introducing random investment in high speed rail transport valuation
title_full Introducing random investment in high speed rail transport valuation
title_fullStr Introducing random investment in high speed rail transport valuation
title_full_unstemmed Introducing random investment in high speed rail transport valuation
title_sort Introducing random investment in high speed rail transport valuation
author Couto, Gualter
author_facet Couto, Gualter
Nunes, Cláudia
Pimentel, Pedro
author_role author
author2 Nunes, Cláudia
Pimentel, Pedro
author2_role author
author
dc.contributor.none.fl_str_mv Repositório da Universidade dos Açores
dc.contributor.author.fl_str_mv Couto, Gualter
Nunes, Cláudia
Pimentel, Pedro
dc.subject.por.fl_str_mv High-Speed Rail
Transport Valuation
topic High-Speed Rail
Transport Valuation
description In 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.
publishDate 2012
dc.date.none.fl_str_mv 2012-11
2012-11-01T00:00:00Z
2019-03-20T18:56:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.3/5043
url http://hdl.handle.net/10400.3/5043
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Couto, Gualter; Nunes, Cláudia; Pimentel, Pedro (2012). Introducing random investment in high speed rail transport valuation, “Working Paper Series” nº 9/12, 17 pp.. Ponta Delgada: Universidade dos Açores, CEEAplA-A.
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade dos Açores
publisher.none.fl_str_mv Universidade dos Açores
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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