Real Options and Project Evaluation: A Primer
In this paper authors present a preliminary approach to the evaluation of policies and projects based on current thinking on cost benefit analysis and real option methodology and the authors' recent work on the same subject. Authors start from the assumption that economic agents undertake inves...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2011
|
| Schriftenreihe: | Other papers
|
| Online-Zugang: | Volltext |
| Zusammenfassung: | In this paper authors present a preliminary approach to the evaluation of policies and projects based on current thinking on cost benefit analysis and real option methodology and the authors' recent work on the same subject. Authors start from the assumption that economic agents undertake investment projects in order to create and exploit opportunities for increasing profits, growth, wealth and, ultimately, their welfare. These opportunities are options, rights and not obligations to take some action in the future. They include not only projects undertaken, but also projects that could be adopted in the future and opportunities that can be further created or destroyed by this adoption. From the point of view of the welfare of an entire economy, opportunities enlarge the set of actions that may contribute to national wealth. Not only is this increased by the net flow of discounted benefits generated by new ventures, but also by the net value of the options created and destroyed by investment behavior. When companies develop investment opportunities, therefore, they contribute to national welfare in a more subtle, but not less important way, than when they are actively set to exploit some of these opportunities. By recognizing the direct contribution to country wealth of project design and planning, option theory may thus substantially change the theory and practice of decision making about capital investment |
| Beschreibung: | 1 Online-Ressource |
| DOI: | 10.1596/27376 |
Internformat
MARC
| LEADER | 00000nmm a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV048267864 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220609s2011 |||| o||u| ||||||eng d | ||
| 024 | 7 | |a 10.1596/27376 |2 doi | |
| 035 | |a (ZDB-1-WBA)NLM010450696 | ||
| 035 | |a (OCoLC)1334038295 | ||
| 035 | |a (DE-599)GBVNLM010450696 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 |a DE-19 |a DE-355 |a DE-703 |a DE-91 |a DE-706 |a DE-29 |a DE-M347 |a DE-473 |a DE-824 |a DE-20 |a DE-739 |a DE-1043 |a DE-863 |a DE-862 | ||
| 100 | 1 | |a Knudsen, Odin K. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Real Options and Project Evaluation |b A Primer |c Odin K. Knudsen |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2011 | |
| 300 | |a 1 Online-Ressource | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a Other papers | |
| 520 | |a In this paper authors present a preliminary approach to the evaluation of policies and projects based on current thinking on cost benefit analysis and real option methodology and the authors' recent work on the same subject. Authors start from the assumption that economic agents undertake investment projects in order to create and exploit opportunities for increasing profits, growth, wealth and, ultimately, their welfare. These opportunities are options, rights and not obligations to take some action in the future. They include not only projects undertaken, but also projects that could be adopted in the future and opportunities that can be further created or destroyed by this adoption. From the point of view of the welfare of an entire economy, opportunities enlarge the set of actions that may contribute to national wealth. Not only is this increased by the net flow of discounted benefits generated by new ventures, but also by the net value of the options created and destroyed by investment behavior. When companies develop investment opportunities, therefore, they contribute to national welfare in a more subtle, but not less important way, than when they are actively set to exploit some of these opportunities. By recognizing the direct contribution to country wealth of project design and planning, option theory may thus substantially change the theory and practice of decision making about capital investment | ||
| 700 | 1 | |a Knudsen, Odin K. |4 oth | |
| 700 | 1 | |a Scandizzo, Pasquale L. |4 oth | |
| 856 | 4 | 0 | |u https://doi.org/10.1596/27376 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033648059 | |
Datensatz im Suchindex
| _version_ | 1812671754818027520 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Knudsen, Odin K. |
| author_facet | Knudsen, Odin K. |
| author_role | aut |
| author_sort | Knudsen, Odin K. |
| author_variant | o k k ok okk |
| building | Verbundindex |
| bvnumber | BV048267864 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)NLM010450696 (OCoLC)1334038295 (DE-599)GBVNLM010450696 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1596/27376 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nmm a2200000zc 4500</leader><controlfield tag="001">BV048267864</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220609s2011 |||| o||u| ||||||eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1596/27376</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)NLM010450696</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1334038295</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBVNLM010450696</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-M347</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-1043</subfield><subfield code="a">DE-863</subfield><subfield code="a">DE-862</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Knudsen, Odin K.</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Real Options and Project Evaluation</subfield><subfield code="b">A Primer</subfield><subfield code="c">Odin K. Knudsen</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2011</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Other papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">In this paper authors present a preliminary approach to the evaluation of policies and projects based on current thinking on cost benefit analysis and real option methodology and the authors' recent work on the same subject. Authors start from the assumption that economic agents undertake investment projects in order to create and exploit opportunities for increasing profits, growth, wealth and, ultimately, their welfare. These opportunities are options, rights and not obligations to take some action in the future. They include not only projects undertaken, but also projects that could be adopted in the future and opportunities that can be further created or destroyed by this adoption. From the point of view of the welfare of an entire economy, opportunities enlarge the set of actions that may contribute to national wealth. Not only is this increased by the net flow of discounted benefits generated by new ventures, but also by the net value of the options created and destroyed by investment behavior. When companies develop investment opportunities, therefore, they contribute to national welfare in a more subtle, but not less important way, than when they are actively set to exploit some of these opportunities. By recognizing the direct contribution to country wealth of project design and planning, option theory may thus substantially change the theory and practice of decision making about capital investment</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Knudsen, Odin K.</subfield><subfield code="4">oth</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Scandizzo, Pasquale L.</subfield><subfield code="4">oth</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1596/27376</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033648059</subfield></datafield></record></collection> |
| id | DE-604.BV048267864 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:59:57Z |
| indexdate | 2024-10-12T04:01:36Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033648059 |
| oclc_num | 1334038295 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| physical | 1 Online-Ressource |
| psigel | ZDB-1-WBA |
| publishDate | 2011 |
| publishDateSearch | 2011 |
| publishDateSort | 2011 |
| publisher | The World Bank |
| record_format | marc |
| series2 | Other papers |
| spellingShingle | Knudsen, Odin K. Real Options and Project Evaluation A Primer |
| title | Real Options and Project Evaluation A Primer |
| title_auth | Real Options and Project Evaluation A Primer |
| title_exact_search | Real Options and Project Evaluation A Primer |
| title_exact_search_txtP | Real Options and Project Evaluation A Primer |
| title_full | Real Options and Project Evaluation A Primer Odin K. Knudsen |
| title_fullStr | Real Options and Project Evaluation A Primer Odin K. Knudsen |
| title_full_unstemmed | Real Options and Project Evaluation A Primer Odin K. Knudsen |
| title_short | Real Options and Project Evaluation |
| title_sort | real options and project evaluation a primer |
| title_sub | A Primer |
| url | https://doi.org/10.1596/27376 |
| work_keys_str_mv | AT knudsenodink realoptionsandprojectevaluationaprimer AT scandizzopasqualel realoptionsandprojectevaluationaprimer |