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dc.contributor.authorFleten, Stein-Erik
dc.contributor.authorHaugom, Erik
dc.contributor.authorUllrich, Carl J.
dc.date.accessioned2020-03-19T08:18:28Z
dc.date.available2020-03-19T08:18:28Z
dc.date.created2017-06-14T14:03:16Z
dc.date.issued2017
dc.identifier.citationEnergy Economics. 2017, 63 1-12.en_US
dc.identifier.issn0140-9883
dc.identifier.urihttps://hdl.handle.net/11250/2647478
dc.description© 2017 Elsevier B.V. All rights reserved.en_US
dc.description.abstractThe purpose of this paper is to examine empirically the partially irreversible decisions to shutdown, startup, and abandon existing production assets under cash flow uncertainty and regulatory uncertainty. We use detailed information for 1121 individual electric power generators located in the U.S. for the period 2001–2009 and find strong evidence of real options effects. We find that both profitability uncertainty and regulatory uncertainty decrease the probability of shutdown. Regulatory uncertainty also decreases the probability of startup, but we find that cash flow uncertainty increases the probability of startup, especially for large generators.en_US
dc.language.isoengen_US
dc.subjectregulatory uncertaintyen_US
dc.subjectreal optionsen_US
dc.subjectretail competitionen_US
dc.subjectstranded costsen_US
dc.subjectinvestment decisionsen_US
dc.titleThe real options to shutdown, startup, and abandon: U.S. electricity industry evidenceen_US
dc.typePeer revieweden_US
dc.typeJournal articleen_US
dc.description.versionsubmittedVersionen_US
dc.source.pagenumber1-12en_US
dc.source.volume63en_US
dc.source.journalEnergy Economicsen_US
dc.identifier.doi10.1016/j.eneco.2017.01.016
dc.identifier.cristin1476072
cristin.unitcode209,99,5,3
cristin.unitnameØkonomi og administrasjon
cristin.ispublishedtrue
cristin.fulltextpreprint
cristin.qualitycode1


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