Browsing NTNU Open by Author "Hagspiel, Verena"
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A Comparison of Selected Real Options Valuation Approaches to the Net Present Value Method for an Investment Opportunity in Onshore Wind: An analysis of the specific case of Stokkfjellet Wind Farm, Sør-Trøndelag, Norway
Myran, Ida O'Sullivan; Heggelund, Caroline (Master thesis, 2014)The industry standard among renewable energy companies is to value projects using the traditional discounted cash flow method. Unfortunately, discounted cash flows do not incorporate the value of flexibility. This makes ... -
A Multi-Layered Learning Approach for Sequential Decision Problems with Multiple Uncertainties
Eriksen, Lone Amalie Storaker; Olsen, Tonje Josefine (Master thesis, 2021)I denne masteroppgaven bidrar vi til realopsjonslitteraturen ved å kombinere Bayesiansk læring og Least Squares Monte Carlo (LSM)-metoden. I tillegg til den læringen som oppstår over tid med stokastiske prosesser brukt i ... -
Applying a Monte Carlo approach to economically assess a deep sea mining project on the Norwegian continental shelf
Andreassen, Oscar Ask; Borge, Felix Rying (Master thesis, 2022)Økende bekymringer for klimaendringer driver veksten av nye industrier som vind- og solenergi, batterier og elektrisk infrastruktur. Fremveksten av disse næringene krever en betydelig etterspørsel etter metaller. Dette har ... -
Applying an integrated real options approach to oil field development: Valuing new information through appraisal under market and reservoir risk
Castro, Inti J.; Singh, Partik (Master thesis, 2019)Denne oppgaven studerer investeringsproblemet til et oljeselskap som må ta stilling til når og om det skal utvikle et oljefelt, om de skal investere i et avgrensningsprogram og hvordan de skal bestemme optimal produksjon ... -
Applying an integrated real options approach to oil fielddevelopment: Valuing new information through appraisal under mar-ket and reservoir risk
Castro, Inti J.; Singh, Partik (Master thesis, 2019)Denne oppgaven studerer investeringsproblemet til et oljeselskap som må ta stilling til når og om det skal utvikle et oljefelt, om de skal investere i et avgrensningsprogram og hvordan de skal bestemme optimal produksjon ... -
Applying Real Options Valuation in the Concept Selection Phase of Petroleum Projects
Stephansen, Andrea; Sæle, Stine Cecilie Stangeland (Master thesis, 2016)In this thesis we consider the problem of choosing among mutually exclusive investments in the petroleum industry. More specifically, we look at the concept selection phase, which involves choosing an installation for an ... -
Assessing the effect of potential tax regimes on investment incentives in future marine minerals projects on the Norwegian continental shelf from a corporate and a regulatory perspective
Jonsbråten, Ådne; Minge, Filip Fremo (Master thesis, 2023)Global etterspørsel etter metaller har økt raskt de siste tiårene. Den globale energiomstillingen vil trolig øke behovet for metaller ytterligere. For å imøtekomme den estimerte etterspørselen må man finne nye kilder til ... -
Biodiversity impact assessment of the aquaculture industry in Norway - a company level application
Jansen, Markus Bjørkli; Nepstad, Gaute (Master thesis, 2022)Denne oppgaven tar for seg hvordan oppdrettere av laks og ørret i Norge påvirker det biologisk mangfoldet. Vi bruker offentlig tilgjengelige data fra 2016 til 2021 og biologisk mangfold-variablene lakselus, rømminger, ... -
Capacity optimization of an innovating firm
Hagspiel, Verena; Kort, Peter M.; Nunes, Clàudia; Pimentel, Rita; Støre, Kristian (Peer reviewed; Journal article, 2021)This article considers an incumbent's product innovation decision within an uncertain framework, where the firm decides whether to continue selling the established product. The model being dynamic allows to analyze the ... -
Cost-effective development of small discoveries on the Norwegian continental shelf
Fedorov, Semyon (Doctoral theses at NTNU;2022:79, Doctoral thesis, 2022)Today, the oil and gas sector remains Norway’s largest measured in terms of value added, government revenues, investments and export value. The Norwegian continental shelf is a maturing production area, which means that ... -
Development of a portfolio of marginal fields under reservoir and price uncertainty: A compound real options approach with Bayesian learning
Hyldmo, Tobias; Skudal, Markus Hoff (Master thesis, 2023)Den synkende, gjennomsnittlige størrelsen på olje- og gassfunn på den norske kontinentalsokkelen har økt interessen for å redusere usikkerheten knyttet til investeringsbeslutninger innen olje- og gasssektoren. Marginale ... -
Economic Feasibility of Power from Shore Solutions at Existing Petroleum Installations: A Real Options Approach
Andersen, Martha Honganvik; Lervik, Andreas (Master thesis, 2020)Økende CO2-skatt sammen med teknologiske framskritt har gjort landstrømløsninger økonomisk levedyktig for mange felt på den norske kontinentalsokkelen. I dag får de fleste installasjoner på sokkelen kraft fra gassturbiner. ... -
Essays on electricity price modelling
Hagfors, Lars Ivar (Doctoral theses at NTNU;2018:302, Doctoral thesis, 2018)This doctoral thesis consists of 6 separate research essays. The essays all use various econometric modelling techniques to examine different aspects of the move towards cleaner energy in Europe, from an economic point of ... -
Evaluating Lead Time Decisions: A Case Study within the General Automotive Industry
Heiberg, Bjørn Erik Grov; Moltu, Jørgen Thomren; Fredriksen, Martin Petter (Master thesis, 2014)Managers often experience problems with quantifying the value of reducing or extending lead time when assessing different sourcing alternatives. In practice, these decisions are often made considering only unit procurement ... -
Green capacity investment under subsidy withdrawal risk
Nagy, Roel; Hagspiel, Verena; Kort, P.M. (Peer reviewed; Journal article, 2021)Subsidies initially installed to stimulate green capacity investments tend to be withdrawn after some time. This paper analyzes the effect on investment of this phenomenon in a dynamic framework with demand uncertainty. ... -
Green investment under policy uncertainty and Bayesian learning
Dalby, Peder A.O.; Gillerhaugen, Gisle R.; Hagspiel, Verena; Leth-Olsen, Tord; Thijssen, Jacco J.J. (Journal article; Peer reviewed, 2018)Many countries have introduced support schemes to accelerate investments in renewable energy (RE). Experience shows that, over time, retraction or revision of support schemes become more likely. Investors in RE are greatly ... -
Green Investment under Policy Uncertainty and Bayesian Learning
Dalby, Peder Andreas Olsen; Gillerhaugen, Gisle Ryan; Leth-Olsen, Tord (Master thesis, 2016)In the last decades, several countries have introduced support schemes to accelerate investments in renewable energy (RE). When support schemes have served their purpose, and production goals are met, retraction or revision ... -
Green investment under time-dependent subsidy retraction risk
Hagspiel, Verena; Nunes, Clàudia; Oliveira, Carlos; Portela, Manuel (Peer reviewed; Journal article, 2020)Driven by ambitious targets to reduce greenhouse gas emissions many countries have introduced support schemes to accelerate investments in renewable energy. However, in recent years experience showed that, over time, ... -
The impact of subsidy retraction on European renewable energy investments
Sendstad, Lars H.; Hagspiel, Verena; Mikkelsen, Wilhelm Jebsen; Ravndal, Ruben; Tveitstøl, Martin (Peer reviewed; Journal article, 2021)Over the past few decades, renewable energy has received considerable public support through subsidies. However, its reliance on governments inherently induces policy uncertainty through the possibility of retroactive ... -
Investment in electric energy storage under uncertainty: a real options approach
Bakke, Ida; Fleten, Stein-Erik; Hagfors, Lars Ivar; Hagspiel, Verena; Norheim, Beate; Wogrin, Sonja (Journal article; Peer reviewed, 2016)In this paper we develop a real options approach to evaluate the profitability of investing in a battery bank. The approach determines the optimal investment timing under conditions of uncertain future revenues and investment ...