Estimating spillover benefits of large R&amp;D projects: Application of real options modelling approach to the case of thermonuclear fusion R&amp;D programme

Bednyagin, D.; Gnansounou, Edgard

doi:10.1016/j.enpol.2011.10.046

Cited by 18 publications

(12 citation statements)

References 30 publications

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“…Bednyagin and Gnansounou [1] consider the spillover benefits of the R & D program on thermonuclear fusion technology. The socioeconomic benefits are higher than the expected costs.…”

Section: Problem Formulationmentioning

confidence: 99%

Valuation of investment projects in the context of sustainable development: Real option approach

Targiel

2013

2013 World Congress on Sustainable Technologies (WCST)

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Traditionally, the evaluation of development projects is made on the basis of financial criteria. In the context of sustainable development, the social and environmental aspects must also be considered. Contemporary project valuation takes into account not only the static planned cash flows but also opportunities that may appear, known as real options. This paper describes a method for the valuation of development projects, taking into account the above aspects of valuation.

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“…Bednyagin and Gnansounou [1] consider the spillover benefits of the R & D program on thermonuclear fusion technology. The socioeconomic benefits are higher than the expected costs.…”

Section: Problem Formulationmentioning

confidence: 99%

Valuation of investment projects in the context of sustainable development: Real option approach

Targiel

2013

2013 World Congress on Sustainable Technologies (WCST)

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“…This issue is discussed in the literature by Guthrie [9]. Guthrie considered one such factor, and this article extends these considerations and binds the results of the project with two factors.…”

Section: Introductionmentioning

confidence: 97%

“…We assume that we have N periods, the present value of each state variable denoted by X k (0,0) and also have u and d. The value of u can be obtained from historical data by the calibration procedure [9].…”

Section: Methods Of Evaluationmentioning

confidence: 99%

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Real Options in Sustainable Development Projects

Targiel¹

2014

IJSED

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“…jective, the social benefits of public investment in demonstrations also depend on codifying and disseminating that knowledge (Peters et al, 2012;Bednyagin and Gnansounou, 2012;Cappelli et al, 2014). Effective reporting of results is central to the public goods that projects provide (Frishammar et al, 2015), especially in that it allows for performance review (Thomsen et al, 2005).…”

Section: Knowledge Dissemination: While Generating New Knowledge Is Amentioning

confidence: 99%

The Valley of Death, the Technology Pork Barrel, and Public Support for Large Demonstration Projects

2016

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractMoving non-incremental innovations from the pilot scale to full commercial scale raises questions about the need and implementation of public support. Heuristics from the literature put policy makers in a dilemma between addressing a market failure and acknowledging a government failure: incentives for private investments in large scale demonstrations are weak (the valley of death) but the track record of governance in large demonstration projects is poor (the technology pork barrel). We reassess these arguments in the literature, particularly as to how they apply to supporting demonstration projects for decarbonizing industry. Conditions for the valley of death exist with: low appropriability, large chunky investments, unproven reliability, and uncertain future markets. We build a data set of 511 demonstration projects in nine technology areas and code characteristics for each project, including timing, motivations, and scale. We argue that the literature and the results from the case studies have five main implications for policy makers in making decisions about demonstration support. Policy makers should consider: 1) prioritizing learning, 2) iterative upscaling, 3) private sector engagement, 4) broad knowledge dissemination, and 5) making demand pull robust.

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Estimating spillover benefits of large R&D projects: Application of real options modelling approach to the case of thermonuclear fusion R&D programme

Cited by 18 publications

References 30 publications

Valuation of investment projects in the context of sustainable development: Real option approach

Valuation of investment projects in the context of sustainable development: Real option approach

Real Options in Sustainable Development Projects

The Valley of Death, the Technology Pork Barrel, and Public Support for Large Demonstration Projects

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