Firm investment behaviour under a carbon emissions pricing scheme : a real options analysis of investment in low emissions electricity generation technologies in Australia
A general finding from the growing literature applying 'real options' theory to investment under carbon emission pricing schemes (CEPSs), is that the level of uncertainty in the expected price of carbon is a key factor in the extent to which a CEPS's design provides incentives for a firm to invest in lower carbon emissions technologies. Notwithstanding this finding, major public policy analyses of CEPSs have not utilised real options analysis to gain insights into the effect of a scheme's...[Show more]
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