(), Henri LOUBERGE
() and Stéphane VILLENEUVE
Henri LOUBERGE: University of Geneva
Stéphane VILLENEUVE: University of Evry
Abstract: In this paper, we investigate the optimal timing for deep geological disposal of nuclear waste. Our model is based on the real options approach to investment under uncertainty. In this context, the problem is similar to the optimal exercise policy for a perpetual American spread option. The potential usefulness of such a model for actual decision-making on a sensitive issue is illustrated by some numerical simulations.
22 pages, April 1, 2001
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