Urban renewal and real option analysis: A case study

Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

Volumn 8581 LNCS, Issue PART 3, 2014, Pages 148-160

  Morano, Pierluigi ^a   Tajani, Francesco ^a  

^a POLITECNICO DI BARI   (Italy)

Author keywords

financial feasibility; Real options; risk analysis; urban renewal

Indexed keywords

INDUSTRIAL RESEARCH; RISK ANALYSIS;

ECONOMIC SITUATION; FINANCIAL FEASIBILITY; INDUSTRIAL COMPLEX; REAL OPTION ANALYSIS; REAL OPTIONS; REAL OPTIONS ANALYSIS; URBAN REDEVELOPMENT; URBAN RENEWAL;

INVESTMENTS;

EID: 84904906960     PISSN: 03029743     EISSN: 16113349     Source Type: Book Series    
DOI: 10.1007/978-3-319-09150-1_12     Document Type: Conference Paper

References (26)

1. Amram, M., Kulatilaka, N.: Real Options: Strategie d'investimento in un mondo dominato dall'incertezza. Etas, Milano (2000)
2. Bauer, M.: An analysis of the use of discounting cash flow methods and real options to value flexibility in real estate development projects. Lambert Academic Publishing, Berlin (2009)
3. Brennan, M.J., Trigeorgis, L.: Project Flexibility, Agency and Competition. Oxford University Press, New York (2000)
4. Bulan, L., Mayer, C., Tsuriel Somerville, C.: Irreversible investment, real options, and competition: Evidence from real estate development. Journal of Urban Economics 65, 237-251 (2009)
5. Copeland, T., Antikarov, V.: Opzioni reali: Tecniche di analisi e valutazione. Il Sole 24 Ore, Milano (2003)
6. Copeland, T., Keenan, P.T.: Making Real Options Real. The McKinsey Quarterly (3) (1998)
7. Cox, J., Ross, S., Rubinstein, M.: Options Pricing: a simplified approach. Journal of Financial Economics 7 (1979)
8. Dixit, A.K.: Investment and hysteresis. Journal of Economic Perspectives 6, 107-132 (1992)
9. Dixit, A.K., Pindyck, R.S.: Investment under uncertainty. Princeton University Press, Princeton (1994)
10. Eurostat: Euro-area house prices down by 2.5% - third quarter 2012 compared with third quarter 2011 (2013)
11. Geske, R.: The valuation of compound options. Journal of Financial Economics (1) (1979)
12. Guarini, M.R., Battisti, F., Buccarini, C.: Rome: Re-Qualification Program for the Street Markets in Public-Private Partnership. A Further Proposal for the Flaminio II Street Market. In: Civil, Structural and Environmental Engineering (GCCSEE 2013). Advanced Materials Research, vol. 838-841, pp. 2928-2933 (2014)
13. Hertz, D.: Risk Analysis in Capital Investment. Harvard Business Review 42 (1964)
14. Kulatilaka, N., Markus, A.J.: Project valuation under uncertainly: where does DCF fail? Journal of Applied Corporate Finance 5(3) (1992)
15. Manganelli, B., Morano, P., Tajani, F.: Risk assessment in estimating the capitalization rate. WSEAS Transactions on Business and Economics 11 (2014)
16. Micalizzi, A.: Opzioni reali. Logiche e casi di valutazione degli investimenti in contesti di incertezza. Egea, Milano (1997)
17. Milne, A., Whalley, A.E.: Time to build, option value and investment decisions: A comment. Journal of Financial Economics 56, 325-332 (2000)
18. Morano, P., Tajani, F.: The transfer of development rights for the regeneration of brownfield sites. Applied Mechanics and Materials 409-410, 971-978 (2013)
19. Mun, J.: Real Options Analysis. Tools and techniques for valuing strategic investments and decisions. John Wiley & Sons, New Jersey (2006)
20. Pacheco-de-Almeida, G., Zemsky, P.: The effect of time-to-build on strategic investment under uncertainty. Rand Journal of Economics 34, 166-182 (2003)
21. Rocha, K., Salles, L., Alcaraz Garcia, F.A., Sardinha, J.A., Teixeira, J.P.: Real estate and real options - a case study. Emerging Markets Review 8, 67-79 (2007)
22. Schatzki, T.: Options, uncertainty and sunk costs: an empirical analysis of land use change. Journal of Environmental Economics and Management 46, 86-105 (2003)
23. Standard & Poor's: Europe's recession is still dragging down house prices in most markets (2013)
24. Titman, S.: Urban Land Prices Under Uncertainty. The American Economic Review 75(3), 505-514 (1985)
25. Triantis, A.J., Hodder, J.E.: Valuing flexibility as a complex option. Journal of Finance 45, 549-565 (1990)
26. Trigeorgis, L.: Real Options. Managerial Flexibility and Strategy in Resource Allocation. The MIT Press, Cambridge (1996)