Seminário

Green investment under time-dependent subsidy retraction risk

Sala 6.4.30, FCUL, Lisboa

Por Carlos Oliveira (Cemapre, ISEG - School of Economics and Management).

Abstract: Driven by ambitious targets to reduce greenhouse gas emissions many countries have introduced support schemes to accelerate investments in renewable energy (RE). However, in recent years experience showed that, over time, retraction of support schemes becomes more likely. This has a severe effect on investment behavior. We split this presentation into two parts. In the first one, we address the general problem of making a managerial decision when the investment project is subsidized, which results in the resolution of an infinite-horizon optimal stopping problem of a switching diffusion driven by either a homogeneous or an inhomogeneous continuous-time Markov chain. Additionally, we provide a characterization of the value function (and optimal strategy) of the optimal stopping problem. Indeed, we can prove that the value function is the unique viscosity solution to a system of HJB equations. In the second part, we study, particularly, the effect of a potential subsidy retraction on investment timing in RE production capacity. Subsidy implemented in the form of fixed feed-in tariffs (FIT) is subject to potential future retraction. We explicitly account for the fact that the likelihood of policy retraction may change over time.

14h15
CEAUL - Centro de Estatística e Aplicações da Universidade de Lisboa
Sonhos: A noite em quatro tons

O Coro da Universidade de Lisboa apresenta Sonhos - A noite em quatro tons, um concerto virtual dividido em quatro momentos que vão trazer música às noites de sábado de Agosto.

Sonhos: A noite em quatro tons

O Coro da Universidade de Lisboa apresenta Sonhos - A noite em quatro tons, um concerto virtual dividido em quatro momentos que vão trazer música às noites de sábado de Agosto.

Sonhos: A noite em quatro tons

O Coro da Universidade de Lisboa apresenta Sonhos - A noite em quatro tons, um concerto virtual dividido em quatro momentos que vão trazer música às noites de sábado de Agosto.

Sonhos: A noite em quatro tons

O Coro da Universidade de Lisboa apresenta Sonhos - A noite em quatro tons, um concerto virtual dividido em quatro momentos que vão trazer música às noites de sábado de Agosto.

Este encontro científico visa dar a conhecer o trabalho dos membros do Centro de Matemática, Aplicações Fundamentais e Investigação Operacional (CMAFcIO), bem como o de colegas de áreas afins pertencentes a outras Unidades de Investigação e promover, na medida do possível, a in

Logótipo do evento, sobre um fundo branco

New date: September 14th-16th, 2020.

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O cE3c - Centro de Ecologia, Evolução e Alterações Ambientais está mais uma vez a organizar o Seminário cE3c I, que irá decorrer no 1.º semestre do ano letivo 2020/2021 na Faculdade de Ciências.

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Fotografia de caminhantes numa montanha

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Leitura e escrita são a base fundacional de todas as literacias e a condição primeira para o juízo compreensivo e crítico, o enriquecimento cultural, a formação estética e a memória individual e coletiva das sociedades.

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Objectives: Provide students with basic knowledge of R programming, allowing them to manipulate and visualize data with R.

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