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Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Long-term risk management of nuclear waste: a real options approach |
| Organization Unit | |
| Authors |
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| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
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| Journal Title | Journal of Economic Dynamics and Control |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 0165-1889 |
| Volume | 27 |
| Number | 1 |
| Page Range | 157 - 180 |
| Date | 2002 |
| Abstract Text | In this paper, we investigate the optimal timing for deep geological disposal of nuclear waste. Our model is based on the real options approach to investment under uncertainty. In this context, the problem is similar to the optimal exercise policy for a perpetual American spread option. The potential usefulness of such a model for actual decision-making on a sensitive issue is illustrated by some numerical simulations. |
| Digital Object Identifier | 10.1016/S0165-1889(01)00058-6 |
| Other Identification Number | merlin-id:13226 |
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| Keywords | Risk management, optimal stopping, real and American options |