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Real Options Conference 2023

Full Program

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Wednesday, 19 July 2023
7:45am-8:30am
8:30am-5:00pm
(Lecture Room 454)Session Chair: Lenos Trigeorgis, Durham University, UK

Workshop on Environmental Policy Options, Day 1

Thursday, 20 July 2023
9:00am-6:15pm
(Lecture Room 454)Session Chair: Laura Marsiliani, Durham University, UK

Workshop on Environmental Policy Options: Day 2

Friday, 21 July 2023
8:15am-9:00am
9:00am-10:15am
Track I Room 454Track II Room 403
Session Chair: Babak Jafarizadeh, UC Berkeley, USAEmission Reduction Or Monetary Gain? Economic Decision Analysis For Energy Transition ProjectsBabak Jafarizadeh, United StatesDiscussant: Ibrahim Kadafur, Heriot Watt UniversityOptimal Decision Making In Energy MarketsFrank Heinz, RWTH Aachen University, Germany; Madlener Reinhard, Chair of Energy Economics and Management, Institute for Future Energy Consumer Needs and Behavior, RWTH Aachen University, GermanyDiscussant: Babak JafarizadehForecasting Carbon PricesIbrahim Kadafur, Heriot Watt University, United KingdomDiscussant: Madlener Reinhard, Chair of Energy Economics and Management, Institute for Future Energy Consumer Needs and Behavior, RWTH Aachen University Session Chair: Yuri Lawryshyn, University of Toronto, CanadaEu States Bioeconomies and Sustainable DevelopmentMaximilian Kardung, Wageningen University, Netherlands; Kutay Cingiz, Wageningen University, Netherlands; Justus Wesseler, Wageningen University, NetherlandsDiscussant: Xinlun Song, King's College LondonReal Options Awareness and Its AntecedentsXinlun Song, King's College London, United KingdomDiscussant: Maximilian Kardung, Wageningen University
10:45am-12:00pm
Track I Room 454Track II Room 403
Session Chair: Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-ChampaignReal Options With Value of Information: A Case In Oil and Gas ExplorationLucas Mesz, Petrobras, Brazil; Marco Antonio Guimarães Dias, Puc-Rio, Brazil; Carlos de Lamare Bastian-Pinto , Puc-Rio, BrazilDiscussant: Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-ChampaignCo2 Injection In Nearly Depleted Gas ReservoirsMohadeseh Motie, United Kingdom; Babak Jafarizadeh, United KingdomDiscussant: Lucas Mesz, PetrobrasResource Idling and Resource Redeployment: Theory and Empirical Test In Oil WellsToby Li, Mays Business School, Texas A&M University, United States; Jeffrey Reuer, Leeds School of Business, University of Colorado Boulder, United States; Arkadiy Sakhartov, Gies College of Business, University of Illinois at Urbana-ChampaignDiscussant: Mohadeseh Motie Session Chair: Luiz Brandão, University of Texas at Austin, USA Valuation of Risk Mitigation In Industrial Process SafetyCarlos Bastian-Pinto, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, Brazil; Leonardo Gomes, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, Brazil; Brandão Luiz, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro, BrazilDiscussant: Dean Paxson, Alliance Manchester Business SchoolSafeguarding Infrastructure Projects Against Disruptive Events With Term Extension ClauseAlessio Stanganello, Politecnico di Bari, Italy; Carlos Bastian-Pinto, PUC-Rio | IAG Business School, Brazil; Roberta Pellegrino, Politecnico di Bari, Italy; Luiz Brandão, The University of Texas at Austin | McCombs School of Business, United States; Naielly Marques, PUC-Rio | IAG Business School, BrazilDiscussant: Maximilian Kardung, Wageningen UniversityEu Novel Food Regulation and Firm Investment DecisionsAlessandro Varacca, Università Cattolica del Sacro Cuore, Italy; Beatrice Cortesi, Wageningen University, Netherlands; Maximilian Kardung, Wageningen University, Netherlands; Claudio Soregaroli, Università Cattolica del Sacro Cuore, Italy; Justus Wesseler, Wageningen University, NetherlandsDiscussant: Leonardo Gomes, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro
2:00pm-3:15pm
Track I Room 454Track II Room 403
Session Chair: Stein-Erik Fleten, Norwegian University of Science and Technology, NorwayValuation of A Green & Yellow Hydrogen Plant In BrazilLeonardo Gomes, PUC-Rio, Brazil; Carlos Bastian-Pinto, PUC-Rio, BrazilDiscussant: Stein-Erik Fleten, Norwegian University of Science and TechnologyUncertain Electricity Use From Renewables and The Flexible Use of Green HydrogenSidnei Oliveira-Cardoso, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Florian Pradelle, Departamento de Engenharia Mecanica (DEM), Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Luiz Eduardo Brandao, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, Brazil; Carlos de Lamare Bastian-Pinto, IAG Business School, Pontificia Universidade Catolica do Rio de Janeiro, BrazilDiscussant: Sidnei Oliveira-Cardoso, IAG Business School, Pontificia Universidade Catolica do Rio de JaneiroPlanning For Hydropower Plant Upgrades and Reinforcement LearningAndreas Kleiven, Norwegian University of Science and Technology, Norway; Selvaprabu Nadarajah, University of Illinois at Chicago, United States; Stein-Erik Fleten, Norwegian University of Science and Technology, NorwayDiscussant: Leonardo Gomes, IAG Business School, Pontifícia Universidade Católica of Rio de Janeiro Session Chair: Alcino Azevedo, Aston Business SchoolAlternative Green Bond DesignsNiklas Dahlen, HHL Leipzig Graduate School of Management, Germany; Maximilian Schreiter, HHL Leipzig Graduate School of Management, Germany; Rieke Fehrenkötter, HHL Leipzig Graduate School of Management, GermanyDiscussant: Alcino Azevedo, Aston Business SchoolThe Use of Tax Havens As A Real OptionAlcino Azevedo, Aston Business School, United Kingdom; Nigel Driffield, Warwick Business School, United Kingdom; Chris Jones, Aston Business School, United Kingdom; Izidin El Kalak, Cardiff Business School, United KingdomDiscussant: Niklas Dahlen, HHL Leipzig Graduate School of Management
3:45pm-5:00pm
Track I Room 454Track II Room 403
Session Chair: Elizabeth Whalley, Warwick University, UKValue Share Appropriation and Payment Structure In Biotechnology Licensing DealsLenos Trigeorgis, Durham Business School, United Kingdom; Francesco Baldi, University of Turin and LUISS Guido Carli University, Italy; Raffaele Oriani, LUISS Guido Carli University, ItalyDiscussant: Yuri Lawryshyn, University of TorontoInvestment In Biosecurity With Spillover Effects Among RivalsElizabeth Whalley, University of Warwick, United KingdomDiscussant: Francesco Baldi, University of Turin and LUISS Guido Carli UniversityReinforcement Learning In Multi-Factor Real Options ModellingYuri Lawryshyn, University of Toronto, CanadaDiscussant: A Elizabeth Whalley, University of Warwick Session Chair: Dean Paxson, University of Manchester, UKReal Option Games Between RivalsDean Paxson, University of Manchester, United Kingdom; Roger Adkins, University of Bradford, United Kingdom; Alcino Azevedo, University of Aston, United KingdomDiscussant: Azzurra Morreale, LUT Business SchoolInteractions Between Capital Structure and Merger DecisionsArtur Rodrigues, PortugalDiscussant: Roger AdkinsExperimental Evidence of Inequality Aversion In Real Options GamesAzzurra Morreale, LUT Business School, Finland; Luigi Mittone, University of Trento, Department of Economics and Management, Italy; Mostafa Goudarzi, University of Trento, Department of Economics and Management, Italy; Flavio Bazzana, University of Trento, Department of Economics and Management, ItalyDiscussant: Artur Rodrigues
Saturday, 22 July 2023
9:00am-10:15am
Track I Room 454Track II Room 403
Session Chair: Nick Huberts, University of York, UKOptimal Investment Decisions With Minimum Price GuaranteesJosé Carlos Dias, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; João Pedro Nunes, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; João Pedro Ruas, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL), Portugal; Fernando Correia Silva, Iscte - Instituto Universitário de Lisboa, PortugalDiscussant: Nick Huberts, University of YorkInvesting In R&d For Smart Products, Option To Update and Safety RegulationNick Huberts, University of York, United Kingdom; Herbert Dawid, Bielefeld University, Germany; Peter Kort, Tilburg University, NetherlandsDiscussant: Nicos Koussis, Frederick UniversityRefinancing and Mean Reversion In EarningsElettra Agliardi, University of Bologna, Italy; Marios Charalambides, Frederick University, Cyprus; Md Shahedur R. Chowdhury, Arkansas Tech University, United States; Nicos Koussis, Frederick University, CyprusDiscussant: José Carlos Dias, Iscte - Instituto Universitário de Lisboa and Business Research Unit (BRU-IUL) Session Chair: Benoit Chevalier-Roignant, EMLYON Business School, FranceRival Strategic Options In A Market Sharing DuopolyRoger Adkins, United Kingdom; Alcino Azevedo, Aston Business School, United Kingdom; Dean Paxson, Alliance Manchester Business School, United KingdomDiscussant: Richard Ruble, emlyon business schoolStrategic Investment and Subsidies In An Asymmetric DuopolyLuciana Barbosaa, Iscte - Instituto Universitário de Lisboa, Portugal; Artur Rodrigues, University of Minho, Portugal; Alberto Sardinha, Instituto Superior Técnico, Universidade de Lisboa, PortugalDiscussant: Dean Paxson, University of ManchesterOligopoly Pricing With Information and Search FrictionsBenoit Chevalier-Roignant, emlyon business school, France; Richard Ruble, emlyon business school, FranceDiscussant: Artur Rodrigues
10:45am-12:00pm
Track I Room 454Track II Room 403
Session Chair: Grzegorz Pawlina, Lancaster University, UKThe Dynamics of Stock RepurchasesGrzegorz Pawlina, Lancaster University, United Kingdom; Zexi (jesse) Wang, Lancaster University, United KingdomDiscussant: Takashi Shibata, Tokyo Metropolitan UniversityDual Ownership, Capital Structure and InvestmentPaulo Pereira, University of Porto, Portugal; Artur Rodrigues, University of Minho, PortugalDiscussant: Grzegorz Pawlina, Lancaster UniversityInvestment Timing and Debt-Equity FinancingTakashi Shibata, Tokyo Metropolitan University, Japan; Michi Nishihara, Osaka University, JapanDiscussant: Paulo Pereira, University of Porto Session Chair: Motoh Tsujimura, Doshisha University, JapanOperational Flexibility To Expand Or Contract Capacity Investment Under Model UncertaintyJunichi Imai, Keio University, Japan; Motoh Tsujimura, Doshisha University, JapanDiscussant: Benoit Chevalier-Roignant, emlyon business schoolThe Impact of Ambiguity Over Clinical Status As Predictor of Healthcare Treatment OutcomesLaura Delaney, Kings College London, United KingdomDiscussant: Motoh Tsujimura, Doshisha UniversityReal Options Under Ambiguity With Rare EventsBenoit Chevalier-Roignant, emlyon business school, France; Lenos Trigeorgis, Durham, United Kingdom; Andrianos Tsekrekos, Athens University of Economics and Business, Greece; Thanasis Yannacopoulos, Athens University of Economics and Business, GreeceDiscussant: Laura Delaney, Kings College London

 


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