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| Author: | Cortazar, G. |
| Title: | Evaluating environmental investments: a real options approach |
| Journal: | Management Science
1998 : AUG, VOL. 44:8, p. 1059-1070 |
| Index terms: | MANAGEMENT ENVIRONMENT INVESTMENT |
| Language: | eng |
| Abstract: | The paper presents a model that determines when (at which output price level) it is optimum for a firm to invest in environmental technologies and which are the main parameters that affect this decision. The authors' analysis shows that firms require high output price levels to be induced to invest in environmental technologies, because they optimally would not want to commit to a heavy irreversible investment that could turn out to be unprofitable in the event of a price fall. |
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