Real options appraisal of forestry investments under information scarcity in biomass markets

João Zambujal-Oliveira, Manuel Mouta-Lopes and Ricardo Bangueses

Resources Policy, 2021, vol. 74, issue C

Abstract: Technology projects involve the acquisition and development of assets with different natures, such as infrastructure and application software, which might have little value unless other assets are present. Even when the benefits associated with a particular asset can be isolated, they involve a high degree of uncertainty, because their execution is affected by several organizational aspects. The multiple choices necessary for the project development imply different phases and cost schemes, so choosing among these choices has implications for the options available for the project manager once the project has started.

Keywords: Multi-stage investments; Seed capital; Implied utilization; Information scarcity (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:74:y:2021:i:c:s0301420717306335

DOI: 10.1016/j.resourpol.2020.101735

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