Uncertainty and global sensitivity analysis in the evaluation of investment projects

The Relative Sensitivities Analysis Between the Economic Growth Rate and Selected Macroeconomic Variables: Turkey Case

“…In (Borgonovo and Peccati, 2004), absolute sensitivity analysis is applied to the equations regarding the investment decisions and then the elasticity of survival risk validation is investigated. Similarly, a global sensitivity analysis is performed on investment decisions in energy sector (Borgonovo and Peccati, 2006).…”

A Non-Probabilistic Solution for Uncertainty and Sensitivity Analysis on Techno-Economic Assessments of Biodiesel Production with Interval Uncertainties

“…However, real engineering inevitably confronts various uncertain parameters resulting from numerous economic and technical uncertainties when performing TEA of biodiesel production [40], such as variation in the feedstock price [52], fluctuation of biodiesel price [52], and change in the rate of interest [53], and thus it may be more rational to treat these parameters as uncertain parameters. Recently, several works have studied the TEA of biodiesel production subject to many economic and technical uncertainties defined by random variables with probability density functions (PDFs) [54][55][56][57][58][59][60][61][62][63][64][65], including TEA for algae-derived biodiesel with uncertainties [55,56], TEA for biodiesel production with uncertainties using structural reliability principles [57], TEA for palm biodiesel production with uncertainties [58,59], TEA for inedible Jatropha oil biodiesel production with uncertainties [60], TEA for waste oil biodiesel production with uncertainties [61], probabilistic TEA for microalgae biofuel production [62], TEA for bioethanol production with uncertainties [63], stochastic TEA for alcohol-to-jet fuel production [64], TEA for high-value propylene glycol production with uncertainties [65], etc. These research works have discovered that the uncertainties related to the random parameters have distinct effects on the TEA.…”

“…The previous studies [54][55][56][57][58][59][60][61][62][63][64][65] consider the effect of the uncertainties, and they consider the uncertainties as random variables following PDFs. Treating uncertainties as random variables may not be reasonable due to the fact that determining the precise PDFs requires a large number of data, but the data in practical engineering is usually limited due to lack of sufficient samples for TEA.…”

Uncertainty analysis and global sensitivity analysis of techno-economic assessments for biodiesel production

“…In practice, many unavoidable, uncertain sources exist in the TEAs of biodiesel production during the project's lifetime (Sotoft et al, 2010), such as the variation of the feedstock and biodiesel prices (Busse et al, 2012) and the fluctuation of the interest rate (Mankiw, 2011). As revealed by Borgonovo and Peccati (2006) and Brownbridge et al (2014), the uncertainties in http://dx.doi.org/10.1016/j.biortech.2014.10.162 0960-8524/Ó 2014 Elsevier Ltd. All rights reserved. the parameters may exert important effects on the investment projects.…”