dc.contributor.advisor | Fleten, Stein-Erik | nb_NO |
dc.contributor.author | Gravdehaug, Guro | nb_NO |
dc.contributor.author | Remmen, Ragnhild | nb_NO |
dc.date.accessioned | 2014-12-19T14:27:38Z | |
dc.date.available | 2014-12-19T14:27:38Z | |
dc.date.created | 2012-01-06 | nb_NO |
dc.date.issued | 2011 | nb_NO |
dc.identifier | 473569 | nb_NO |
dc.identifier | ntnudaim:6003 | nb_NO |
dc.identifier.uri | http://hdl.handle.net/11250/265902 | |
dc.description.abstract | This empirical study examines investment behavior in small hydropower investments under uncertain electricity prices and revenues from selling so-called green certificates. We assess 73 small hydropower projects granted a license to build from the Norwegian authorities. The license is considered an American call option with infinite lifetime. To examine the investment behavior, we conduct a survey to recreate the available information on the date of investment decision. We apply a net present value approach and a real options value approach to the small hydropower projects by using two scenarios; with and without green certificates. Our data does not support that a real options approach explains investor behavior better than a net present value approach. | nb_NO |
dc.language | eng | nb_NO |
dc.publisher | Institutt for industriell økonomi og teknologiledelse | nb_NO |
dc.subject | ntnudaim:6003 | no_NO |
dc.subject | MTIØT Industriell økonomi og teknologiledelse | no_NO |
dc.subject | | no_NO |
dc.title | Real Options in Small Hydropower Investments: An Empirical Study from Norway | nb_NO |
dc.type | Master thesis | nb_NO |
dc.source.pagenumber | 46 | nb_NO |
dc.contributor.department | Norges teknisk-naturvitenskapelige universitet, Fakultet for samfunnsvitenskap og teknologiledelse, Institutt for industriell økonomi og teknologiledelse | nb_NO |