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Buying real options - Valuing uncertainty in infrastructure planning
Herder, P.M.; Joode, J. de; Ligtvoet, A.; Schenk, S.; Taneja, P.
Gepubliceerd door: Publicatie datum:
ECN Beleidsstudies 17-6-2011
ECN publicatienummer: Publicatie type:
ECN-V--11-010 Artikel vakblad
Aantal pagina's: Volledige tekst:
10  Niet beschikbaar.

Gepubliceerd in: Futures (Elsevier), , 2011, Vol.Volume 43, issue 9, p.961-969.

For the last two decades real options thinking has been heralded as a new approach for handling uncertainty in investment decisions. However, application of the approach in infrastructure investment decision-making is negligible thus far. In this contribution we address the question: what are the barriers for the implementation of the real option approach (ROA) in practice? We focus on the experiences in several infrastructure-bound sectors: spatial planning and transport, ports, and energy. We conclude that the ROA maturity levels of these different sectors are quite different, and we ascribe these differences to the political setting, the institutional setting and the organisational flexibility of the sectors and their stakeholders. We suggest that the same issues apply to other advanced, quantitative methods.

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