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dc.contributor.advisorFleten, Stein-Eriknb_NO
dc.contributor.authorGravdehaug, Guronb_NO
dc.contributor.authorRemmen, Ragnhildnb_NO
dc.date.accessioned2014-12-19T14:27:38Z
dc.date.available2014-12-19T14:27:38Z
dc.date.created2012-01-06nb_NO
dc.date.issued2011nb_NO
dc.identifier473569nb_NO
dc.identifierntnudaim:6003nb_NO
dc.identifier.urihttp://hdl.handle.net/11250/265902
dc.description.abstractThis 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.languageengnb_NO
dc.publisherInstitutt for industriell økonomi og teknologiledelsenb_NO
dc.subjectntnudaim:6003no_NO
dc.subjectMTIØT Industriell økonomi og teknologiledelseno_NO
dc.subjectno_NO
dc.titleReal Options in Small Hydropower Investments: An Empirical Study from Norwaynb_NO
dc.typeMaster thesisnb_NO
dc.source.pagenumber46nb_NO
dc.contributor.departmentNorges teknisk-naturvitenskapelige universitet, Fakultet for samfunnsvitenskap og teknologiledelse, Institutt for industriell økonomi og teknologiledelsenb_NO


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