Option valuation of flexible investments : the case of a coal gasifier

Option valuation of flexible investments : the case of a coal gasifier

This paper examines the use of contingent claim analysis to evaluate the option of retrofitting a coal gasifier on an existing gas-fired power plant in order to take advantage of changes in the relative prices of natural gas and coal. Commodity price changes over time were modeled by binomial stocha...

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Bibliographic Details
Main Author:	Herbelot, Olivier
Other Authors:	Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research.
Format:	Working Paper
Published:	MIT Center for Energy and Environmental Policy Research 2009
Online Access:	http://hdl.handle.net/1721.1/50188

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