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Long-term risk management of nuclear waste: a real options approach

✍ Scribed by Henri Loubergé; Stéphane Villeneuve; Marc Chesney

Publisher
Elsevier Science
Year
2002
Tongue
English
Weight
313 KB
Volume
27
Category
Article
ISSN
0165-1889

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✦ Synopsis

In this paper, we investigate the optimal timing for deep geological disposal of nuclear waste. Our model is based on the real options approach to investment under uncertainty. In this context, the problem is similar to the optimal exercise policy for a perpetual American spread option. The potential usefulness of such a model for actual decision-making on a sensitive issue is illustrated by some numerical simulations.

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