Using real options for urban infrastructure adaptation under climate change

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• 作者：Kyeongseok Kim ^{kim.ks@yonsei.ac.kr} ; Sooji Ha ^{susieha@yonsei.ac.kr} ; Hyoungkwan Kim ; ^{hyoungkwan@yonsei.ac.kr}
• 关键词：Adaptation ; Chooser option ; Climate scenarios ; Urban infrastructure ; Real options
• 刊名：Journal of Cleaner Production
• 出版年：2017
• 出版时间：1 February 2017
• 年：2017
• 卷：143
• 期：Complete
• 页码：40-50
• 全文大小：2317 K
• 卷排序：143

文摘

A decision-making model for the urban adaptation investment is proposed. The real options approach reflects the climate uncertainty and urban asset values. The model relies on a chooser option by managerial flexibility. The model provides guidance for the adaptation strategy of urban infrastructure. A case study of Seoul was conducted to demonstrate the model’s applicability.