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Renewable energy investments under different support schemes: A real options approach
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Renewable energy investments under different support schemes: A real options approach (2012)Renewable energy investments under differ…Electricity Prices and Power Derivatives: Evidence from the Nordic Power Exchange (2002)Electricity Prices and Power …Valuing American Options by Simulation: A Simple Least-Squares Approach (2001)Valuing American Options by S…Short-Term Variations and Long-Term Dynamics in Commodity Prices (2000)Short-Term Variations and Lon…The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging (1997)The Stochastic Behavior of Co…Investment Under Uncertainty. (1994)Investment Under Uncertainty.Waiting to Invest: Investment and Uncertainty (1992)Waiting to Invest: Investment…Irreversible Investment, Capacity Choice and the Value of the Firm (1986)Irreversible Investment, Capa…Evaluating Natural Resource Investments (1985)Evaluating Natural Resource I…The Value of Waiting to Invest (1982)The Value of Waiting to InvestThe relation between forward prices and futures prices (1981)The relation between forward …Martingales and stochastic integrals in the theory of continuous trading (1981)Martingales and stochastic in…Martingales and arbitrage in multiperiod securities markets (1979)Martingales and arbitrage in …The arbitrage theory of capital asset pricing (1976)The arbitrage theory of capit…Renewable energy investment and governance in countries along the belt & Road Initiative: Does trade openness matter? (2021)Renewable energy investment a…The effects of credit policy and financial constraints on tangible and research & development investment: Firm-level evidence from China's renewable energy industry (2019)The effects of credit policy …Governance and renewable energy investment in MENA countries:How does trade matter? (2019)Governance and renewable ener…Evaluating uncertain investment decisions in low-carbon transition toward renewable energy (2019)Evaluating uncertain investme…A unified framework for stochastic optimization (2018)A unified framework for stoch…Real Options in Operations Research: A Review (2017)Real Options in Operations Re…Real option valuation in renewable energy literature: Research focus, trends and design (2017)Real option valuation in rene…Risks and risk management of renewable energy projects: The case of onshore and offshore wind parks (2016)Risks and risk management of …Real options analysis for renewable energy investment decisions in developing countries (2016)Real options analysis for ren…Optimal feed-in tariff for solar photovoltaic power generation in China: A real options analysis (2016)Optimal feed-in tariff for so…Evaluating investments in renewable energy under policy risks (2016)Evaluating investments in ren…A real options model for renewable energy investment with application to solar photovoltaic power generation in China (2016)A real options model for rene…The impact of Chinese carbon emission trading scheme (ETS) on low carbon energy (LCE) investment (2015)The impact of Chinese carbon …Application of system dynamics approach in electricity sector modelling: A review (2015)Application of system dynamic…Optimal design of feed-in-tariffs to stimulate renewable energy investments under regulatory uncertainty — A real options analysis (2014)Optimal design of feed-in-tar…Review of renewable energy investment and financing in China: Status, mode, issues and countermeasures (2013)Review of renewable energy in…The Pricing of Options and Corporate Liabilities (1973)Option pricing: A simplified approach (1979)Good News and Bad News: Representation Theorems and Applications (1981)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Financial Intermediation and Delegated Monitoring (1984)The Cross-Section of Expected Stock Returns (1992)Common risk factors in the returns on stocks and bonds (1993)Capital Theory and Investment Behavior (1963)Option pricing when underlying stock returns are discontinuous (1976)Irreversibility, Uncertainty, and Cyclical Investment (1980)Conditional Heteroskedasticity in Asset Returns: A New Approach (1991)Joint Ventures and the Option to Expand and Acquire (1991)Operating Flexibility, Global Manufacturing, and the Option Value of a Multinational Network (1994)Theory of Rational Option Pricing (1973)Bond Pricing and the Term Structure of Interest Rates: A New Methodology for Contingent Claims Valuation (1992)Modeling Term Structures of Defaultable Bonds (1999)Theory of rational option pricing (2005)Determinants of corporate borrowing (1977)A Theory of the Term Structure of Interest Rates (1985)Entry and Exit Decisions under Uncertainty (1989)Irreversibility, Uncertainty, and Investment (1990)An equilibrium characterization of the term structure (1977)Investment under Uncertainty (1994)What do we learn from the price of crude oil futures? (2010)The Fundamentals of Commodity Futures Returns (2012)An Intertemporal General Equilibrium Model of Asset Prices (1985)Forecasting, Structural Time Series Models and the Kalman Filter (1990)Equilibrium Forward Curves for Commodities (2000)The Dynamics of Commodity Spot and Futures Markets: A Primer (2001)The Value Premium (2005)Policy Uncertainty and Corporate Investment (2015)Regression methods for pricing complex American-style options (2001)New frontiers for arch models (2002)Option Pricing Under a Double Exponential Jump Diffusion Model (2004)Investment and Hysteresis (1992)Real Options and Interactions with Financial Flexibility (1993)Strategic Growth Options (1998)
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References

  • 1994Investment Under Uncertainty.9,497 cited
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  • 2001Valuing American Options by Simulation: A Simple Least-Squares Approach3,218 cited
  • 1981Martingales and stochastic integrals in the theory of continuous trading2,837 cited
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  • 1992Waiting to Invest: Investment and Uncertainty516 cited

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  • 2019The effects of credit policy and financial constraints on tangible and research & development investment: Firm-level evidence from China's renewable energy industry161 cited
  • 2015The impact of Chinese carbon emission trading scheme (ETS) on low carbon energy (LCE) investment160 cited
  • 2014Optimal design of feed-in-tariffs to stimulate renewable energy investments under regulatory uncertainty — A real options analysis154 cited
  • 2015Application of system dynamics approach in electricity sector modelling: A review147 cited
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  • 2019Evaluating uncertain investment decisions in low-carbon transition toward renewable energy137 cited
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  • 2016Evaluating investments in renewable energy under policy risks122 cited
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