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dc.contributor.authorMurto, Pauli
dc.contributor.authorNese, Gjermund
dc.date.accessioned2006-07-18T16:18:58Z
dc.date.available2006-07-18T16:18:58Z
dc.date.issued2002-05
dc.identifier.issn1503-2140
dc.identifier.urihttp://hdl.handle.net/11250/166530
dc.description.abstractWe consider energy investment, when a choice has to be made between fossil fuel and biomass fired production technologies. A dynamic model is presented to illustrate the effect of the different degrees of input price uncertainty on the choice of technology and the timing of the investment. It is shown that when the choice of technology is irreversible, it may be optimal to postpone the investment even if it would otherwise be optimal to invest in one or both of the plant types. We provide a numerical example based on cost estimates of two different power plant types.en
dc.format.extent808569 bytes
dc.format.mimetypeapplication/pdf
dc.language.isoengen
dc.publisherSNFen
dc.relation.ispartofseriesWorking Paperen
dc.relation.ispartofseries2002:25en
dc.subjectirreversible investmenten
dc.subjectprice uncertaintyen
dc.subjectbiomassen
dc.subjectreal optionsen
dc.titleInput price risk and optimal timing of energy investment : choice between fossil- and biofuelsen
dc.typeWorking paperen


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