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  • © 2020

Real Option Analysis and Climate Change

A New Framework for Environmental Policy Analysis

Authors:

  • Revisits real option theory and applies it to environmental and climate change policy

  • Presents detailed practical examples from different areas of climate change policy

  • Relevant for researchers and practitioners of climate change policy

Part of the book series: Springer Climate (SPCL)

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eBook USD 59.99
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About this book

This book sets out to reframe the theory of real options so that it can be used to support environmental investments for climate change adaptation and mitigation. Climate change policy often involves making decisions that concern extended time periods, and doing so under considerable uncertainty. By expanding and broadening the framework of real options, this book first introduces readers to new ways of quantifying investment decisions that can much more effectively address the shape and size of the uncertainty than traditional approaches using Net Present Value. In turn, the second part of the book applies this new theoretical framework to climate change policy by presenting a number of examples, and by providing a general perspective on investment decisions related to climate change and how to prioritize them. 

Keywords

  • Real Option Analysis
  • Climate Change Adaptation
  • Climate Change Mitigation
  • Climate Bonds
  • Cat Bonds
  • Climate Change Policy
  • Extreme Events
  • Green Investments
  • Climate change management
  • climate change

Authors and Affiliations

  • Carnegie Mellon University, Pittsburgh, USA

    Benoit Morel

About the author

BenoƮt Morel did his Phd in theoretical high energy Physics in the university of Geneva. His post-doctoral career took him to Harvard university, Caltech and Stanford university before he joined the faculty of Carnegie Mellon University, in the department of Engineering and Public Policy. At Carnegie Mellon his research was at the interface between mathematics and policy analysis. In addition to do research on the subject, he taught a course in Real Options for more than ten years.


Together with his colleagues in his department at Carnegie Mellon University, he participated to a variety of projects in climate change policy analysis.

Bibliographic Information

Buy it now

Buying options

eBook USD 59.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 79.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 109.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access