Risk adjusted discounted cash flows in capacity expansion models

• 成果类型: Article
• 署名作者: Ehrenmann, Andreas; Smeers, Yves
• 署名单位: Engie; Universite Catholique Louvain
• 刊物名称: MATHEMATICAL PROGRAMMING
• ISSN/ISSBN: 0025-5610
• DOI: 10.1007/s10107-013-0692-6
• 发表日期: 2013
• 页码: 267-293
• 关键词: equilibrium; uncertainty

摘要

This paper addresses a problem that is typical of multi-period capacity expansion equilibrium models: plants or sectors have different risk exposures that may warrant different costs of capital. The paper examines modifications of a capacity expansion model interpreted in equilibrium terms to account for asset-specific costs of capital.