Input price risk and optimal timing of energy investment : choice between fossil- and biofuels
作者： Pauli Murto , Gjermund Nese
DOI:
关键词: Investment (macroeconomics) 、 Economics 、 Return on investment 、 Price risk 、 Fossil fuel 、 Biofuel 、 Energy investment 、 Biomass 、 Production (economics) 、 Microeconomics
摘要: We consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented illustrate the effect of different degrees input price uncertainty on technology timing investment. It shown that irreversible, it may optimal postpone investment even if would otherwise invest in one or both plant types. provide numerical example based cost
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