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The optimal time to invest in the new Montijo airport in Portugal

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TLDR
In this article, the authors proposed a new airport in Montijo, which would receive point-to-point (P2P) service and reach its capacity due to an enormous boost to the tourism sector.
Abstract
Lisbon Airport, the most important in Portugal, has reached its capacity due to an enormous boost to the tourism sector. To address this, a new airport in Montijo, which would receive point-to-poin...

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Integrated Model of Computable General Equilibrium and Social Cost Benefit Analysis of an Indian Oil Refinery: Future Projections and Macroeconomic Effects

TL;DR: In this article, the authors examined the costs and benefits of Vadinar refinery in Gujarat with a focus on this welfare dimension on society for the project, and examined the net economic benefit of refining at Vadinars by Essar Oil to the region.
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Raising the bar (19)

TL;DR: In this article , a spatiotemporal Bayesian hierarchical model was applied to understand the dynamics of second home ownership in Corsica and the optimal time to invest in a new airport using real options analysis.
References
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Kostenunterschätzung bei öffentlichen bauprojekten: fehler oder lüge? (Underestimating Costs in Public Works Projects: Error or Lie?)

TL;DR: In this paper, the authors present a comparative study of actual and estimated costs in transportation infrastructure development, with a sample of 66 transportation projects, which approaches a large-sample study and takes a step toward valid statistical analysis.
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Underestimating Costs in Public Works Projects: Error or Lie?

TL;DR: In this paper, the authors present results from the first statistically significant study of cost escalation in transportation infrastructure projects and find that the cost estimates used to decide whether such projects should be built are highly and systematically misleading.
Book

Real Options in Capital Investment: Models, Strategies, and Applications

TL;DR: Real Options: An Overview by Lenos Trigeorgis Real Options and Alternative Valuation Paradigms Methods for Evaluating Capital Investment Decisions under Uncertainty by Elizabeth Olmsted Teisberg Merging Finance Theory and Decision Analysis.
Journal Article

A real-world way to manage real options.

TL;DR: The authors make the case that the complexity of real options can be eased through the use of a binomial valuation model, which is simpler mathematically and easier to understand than the Black-Scholes-Merton model.
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