Ecological objective promotes local government who is in a reservoir area adopting new environmental policies which encourage firms to save energy and reduce emissions.Based on real option theory,we characterized the ...Ecological objective promotes local government who is in a reservoir area adopting new environmental policies which encourage firms to save energy and reduce emissions.Based on real option theory,we characterized the arrival of new environmental policy as a Poisson jump process.Under the situation that neither the policy arrival time nor contents can be determined,with the real option theory,we focused on problems for firms to decide best investment timing and scale,provided the cumulative probability distribution function of investment timing,and gave a numerical analysis.By analyzing the relationship between policy and investment decision,we found a perverse result that the high subsidy does not always encourage investment all the time,which can be a valuable reference for government to control industry pollution and make reasonable policies.展开更多
With the perfection of the housing reformation system and the improvement of the welfare facilities in people′s life, a large scale civil investments are more and more comman. At present, however, the feasibility of ...With the perfection of the housing reformation system and the improvement of the welfare facilities in people′s life, a large scale civil investments are more and more comman. At present, however, the feasibility of construction is focused on. Many investment profects have shown their congenital or postnatal defects sooner or later, even has brought tremendous damage to our environment and society. Therefore, the feasible evaluation on investment is the object in this paper. On the basis of the system analysis theory, this paper uses quantitative analysis and qualitative analysis to evaluate the investment projects and demonstrates the feasibility of the projects in technology economy and societty. This paper studied in detail the feasibility of technical and economic results of civil building investment. Meanwhile, it also uses the fuzzy systematic appraisal to make mathematic model to find a series of feasible an aperatiable evaluation methods. Then, it provides scientific basis for the policy makers and make the investment get results better.展开更多
基金Funded by the National Natural Science Fund (No. 71172082)
文摘Ecological objective promotes local government who is in a reservoir area adopting new environmental policies which encourage firms to save energy and reduce emissions.Based on real option theory,we characterized the arrival of new environmental policy as a Poisson jump process.Under the situation that neither the policy arrival time nor contents can be determined,with the real option theory,we focused on problems for firms to decide best investment timing and scale,provided the cumulative probability distribution function of investment timing,and gave a numerical analysis.By analyzing the relationship between policy and investment decision,we found a perverse result that the high subsidy does not always encourage investment all the time,which can be a valuable reference for government to control industry pollution and make reasonable policies.
文摘With the perfection of the housing reformation system and the improvement of the welfare facilities in people′s life, a large scale civil investments are more and more comman. At present, however, the feasibility of construction is focused on. Many investment profects have shown their congenital or postnatal defects sooner or later, even has brought tremendous damage to our environment and society. Therefore, the feasible evaluation on investment is the object in this paper. On the basis of the system analysis theory, this paper uses quantitative analysis and qualitative analysis to evaluate the investment projects and demonstrates the feasibility of the projects in technology economy and societty. This paper studied in detail the feasibility of technical and economic results of civil building investment. Meanwhile, it also uses the fuzzy systematic appraisal to make mathematic model to find a series of feasible an aperatiable evaluation methods. Then, it provides scientific basis for the policy makers and make the investment get results better.
