Please use this identifier to cite or link to this item:
https://hdl.handle.net/10316/96242
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Godinho, Pedro Manuel Cortesão | - |
dc.contributor.author | Félix Souza, João Carlos | - |
dc.contributor.author | Torres, Pedro Marcelo Amado Garcia da Rocha | - |
dc.date.accessioned | 2021-11-02T18:35:31Z | - |
dc.date.available | 2021-11-02T18:35:31Z | - |
dc.date.issued | 2021-11-02 | - |
dc.identifier.uri | https://hdl.handle.net/10316/96242 | - |
dc.description.abstract | This case study applies Monte Carlo-based real options to analyse the expansion of a port. A stochastic model is defined for the Santarém port, in Brazil, and the optimal moment for expanding the terminal is determined. The application resorts to a common spreadsheet and a simulation add-in, allowing the quantification of both the value of expanding the terminal and the flexibility to determine when to expand. The results allow us to conclude that deterministic cash flow models, based on the expected value, may lead to important biases in projects with capacity constraints. We also conclude that the expansion option may have a high value, which is strongly determined by the initial conditions, and that the expansion thresholds (the values of demand that trigger the expansion) change significantly along the project. | pt |
dc.language.iso | eng | pt |
dc.relation.ispartofseries | CeBER Working paper; | - |
dc.rights | openAccess | pt |
dc.subject | Ports; Simulation; Real Options | pt |
dc.title | Applying real options to port infrastructure expansion: the case of a Brazilian port | pt |
dc.type | workingPaper | pt |
degois.publication.firstPage | 1 | pt |
degois.publication.lastPage | 27 | pt |
degois.publication.title | CeBER Working paper | pt |
dc.relation.publisherversion | https://www.uc.pt/en/uid/ceber/working-paper?key=aa5c46bf | pt |
dc.peerreviewed | yes | pt |
dc.date.embargo | 2021-11-02 | * |
uc.date.periodoEmbargo | 0 | pt |
item.openairetype | workingPaper | - |
item.fulltext | Com Texto completo | - |
item.languageiso639-1 | en | - |
item.grantfulltext | open | - |
item.cerifentitytype | Publications | - |
item.openairecristype | http://purl.org/coar/resource_type/c_18cf | - |
crisitem.author.researchunit | CeBER – Centre for Business and Economics Research | - |
crisitem.author.researchunit | CeBER – Centre for Business and Economics Research | - |
crisitem.author.orcid | 0000-0003-2247-7101 | - |
crisitem.author.orcid | 0000-0002-7903-0039 | - |
Appears in Collections: | I&D CeBER - Working Papers |
Files in This Item:
File | Description | Size | Format | |
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wp-ceber-2021-9-3.pdf | Applying real options to port infrastructure expansion: the case of a Brazilian port | 508.51 kB | Adobe PDF | View/Open |
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