Developing Evaluation Models of Resource and Environmental Policy by using Real Options Approach and Their Applications

• Project/Area Number: 20510149
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Single-year Grants
• Section: 一般
• Research Field: Social systems engineering/Safety system
• Research Institution: Doshisha University (2011); Ryukoku University (2008-2010)
• Principal Investigator: TSUJIMURA Motoo 同志社大学, 商学部, 准教授 (40335328)
• Project Period (FY): 2008 – 2011
• Project Status: Completed (Fiscal Year 2011)
• Budget Amount: ¥4,680,000 (Direct Cost: ¥3,600,000、Indirect Cost: ¥1,080,000); Fiscal Year 2011: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2010: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2009: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000); Fiscal Year 2008: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
• Keywords: ファイナンス / リアルオプション / 資源・環境政策

Research Abstract

This study investigates resource and environmental policies by using real options approaches. Especially this study focuses on the following : 1) the impact of pollutant stock on pollutant reduction policy, 2) R & D investment project, 3) sequential pollutant reduction policies. These analyses reveal how the uncertainty, the cost of policy, technological progress impact on implementing policies.

Research Products

• [Journal Article] 不確実下における企業の投資プロジェクトの評価について (2011)
  • Author(s): 辻村元男
  • Journal Title: 計測と制御 Volume: 50 Pages: 987-992
  • NAID: 10030164914
• [Journal Article] Real Options in a Duopoly Setting : Investment on the Project with Operational Options and Fixed Costs (2010)
  • Author(s): Goto, M., R. Takashima and M. Tsujimura
  • Journal Title: Journal of Applied Operational Research Volume: 2 Pages: 22-32
  • Peer Reviewed
• [Journal Article] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2010)
  • Author(s): Goto, M., R. Takashima and M. Tsujimura
  • Journal Title: 数理解析研究所講究録 Volume: 1675 Pages: 248-260
• [Journal Article] Real Options in a Duopoly Setting : Investment on the Project with Operational Options and Fixed Costs (2010)
  • Author(s): Goto, M., R.Takashima, M.Tsujimura,
  • Journal Title: Journal of Applied Operational Research 2 Pages: 22-32
  • Peer Reviewed
• [Journal Article] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2010)
  • Author(s): Goto, M., R.Takashima, M.Tsujimura
  • Journal Title: 数理解析研究所講究録 1675 Pages: 248-260
• [Journal Article] Irreversible investment, operating flexibility, and time lag (2010)
  • Author(s): Takashima, R., Goto, M., Tsujimura, M.
  • Journal Title: Asia-Pacific Journal of Operational Research Volume: 27 Pages: 271-286
  • NAID: 120003762638
  • Peer Reviewed
• [Journal Article] Real Options in a Duopoly-Setting : Investment on the Project with Operational Options and Fixed Costs (2010)
  • Author(s): Takashima, R., Goto, M., Tsujimura, M.
  • Journal Title: Journal of Applied Operational Research Volume: 2 Pages: 22-32
  • Peer Reviewed
• [Journal Article] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2010)
  • Author(s): M.Goto, R.Takashima, M.Tsujimura
  • Journal Title: 数理解析研究所講究録 1675 Pages: 248-260
• [Journal Article] 不確実性下における調整費用を考慮した設備投資 (2008)
  • Author(s): 辻村元男
  • Journal Title: オペレーションズ・リサーチ Volume: 53 Pages: 603-607
  • NAID: 110006990364
• [Journal Article] Induced Effects and Technological Innovation with Strategic Environmental Policy (2008)
  • Author(s): Ohyama and M. Tsujimura
  • Journal Title: European Journal of Operational Research Volume: 190 Pages: 834-854
  • Peer Reviewed
• [Journal Article] 不確実性下における調整費用を考慮した設備投資 (2008)
  • Author(s): 辻村元男
  • Journal Title: オペレーションズ・リサーチ 53 Pages: 603-607
  • NAID: 110006990364
• [Journal Article] Induced Effects and Technological Innovation with Strategic Environmental Policy (2008)
  • Author(s): Ohyama, M.Tsujimura
  • Journal Title: European Journal of Operational Research 190 Pages: 834-854
  • Peer Reviewed
• [Journal Article] Induced Effects and Technological Innovation with Strategic Environmental Policy (2008)
  • Author(s): A. Ohyama, M. Tsujimura
  • Journal Title: European Journal of Operational Research 190 Pages: 834-854
  • Peer Reviewed
• [Journal Article] 2次形式の調整費用を考慮した代替的な環境政策について (2008)
  • Author(s): 後藤允, 高嶋隆太, 辻村元男
  • Journal Title: オペレーションズ・リサーチ 53 Pages: 235-239
  • NAID: 110004705425
• [Presentation] Pollution Reduction Policies under Uncertainty and Their Costs (2011)
  • Author(s): Tsujimura, M
  • Organizer: The Quantitative Methods in Finance-2011 Conference
  • Place of Presentation: Hilton Sydney Hotel, Sydney, Australia
  • Year and Date: 2011-12-15
• [Presentation] Pollution Reduction Policies under Uncertainty and Their Costs (2011)
  • Author(s): Tsujimura, M.
  • Organizer: The Quantitative Methods in Finance-2011 Conference
  • Place of Presentation: Hilton Sydney Hotel (Sydney, Australia)
  • Year and Date: 2011-12-15
• [Presentation] Pollution Reduction Policies under Uncertainty and Their Costs (2011)
  • Author(s): Tsujimura, M.
  • Organizer: INFORMS Annual Meeting 2011
  • Place of Presentation: Charlotte Convention Center (North Carolina, USA)
  • Year and Date: 2011-11-16
• [Presentation] Pollution Reduction Policies under Uncertainty and Their Costs (2011)
  • Author(s): Tsujimura, M.
  • Organizer: 15th Annual International Conference on Real Options
  • Place of Presentation: Abo Akademi University, (Turku, Finland)
  • Year and Date: 2011-06-17
• [Presentation] Assessing Alternative R & D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M
  • Organizer: INFORMS Annual Meeting 2010
  • Place of Presentation: Hilton Austin, Texas, USA.
  • Year and Date: 2010-11-09
• [Presentation] Assessing Alternative R&D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M.
  • Organizer: INFORMS Annual Meeting 2010
  • Place of Presentation: Hilton Austin, Texas, USA.
  • Year and Date: 2010-11-09
• [Presentation] Assessing Alternative R&D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M.
  • Organizer: INFORMS Annual Meeting 2010
  • Place of Presentation: Hilton Austin
  • Year and Date: 2010-11-09
• [Presentation] Assessing Alternative R & D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M
  • Organizer: The 14th Annual International Conference on Real Options
  • Place of Presentation: Lusiss Business School, Italy
  • Year and Date: 2010-06-18
• [Presentation] Assessing Alternative R&D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M.
  • Organizer: The 14th Annual International Conference on Real Options
  • Place of Presentation: Lusiss Business School, Italy
  • Year and Date: 2010-06-18
• [Presentation] Assessing Alternative R&D Investment Projects under Uncertainty (2010)
  • Author(s): Tsujimura, M.
  • Organizer: The 14th Annual International Conference on Real Options
  • Place of Presentation: Lusiss Business School
  • Year and Date: 2010-06-18
• [Presentation] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2009)
  • Author(s): M. Goto, R. Takashima and M. Tsujimura
  • Organizer: 23rd European Conference on Operational Research
  • Place of Presentation: Gustav-Stresemann-Institute, Germany
  • Year and Date: 2009-07-07
• [Presentation] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2009)
  • Author(s): M.Goto, R.Takashima, M.Tsujimura,
  • Organizer: 23rd European Conference on Operational Research
  • Place of Presentation: Gustav-Stresemann-Institute, Germany.
  • Year and Date: 2009-07-07
• [Presentation] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2009)
  • Author(s): M. Goto, R. Takashima and M. Tsujimura
  • Organizer: 13th Annual International Conference on Real Options
  • Place of Presentation: University of Minho, Portugal
  • Year and Date: 2009-06-19
• [Presentation] Choice of Alternative Environmental Policies with Quadratic Costs under Uncertainty (2009)
  • Author(s): M.Goto, R.Takashima, M.Tsujimura
  • Organizer: 13th Annual International Conference on Real Options
  • Place of Presentation: University of Minho, Portugal.
  • Year and Date: 2009-06-19
• [Presentation] Choice of Three Investment Projects with Fixed and Quadratic Adjustment Costs under Uncertainty (2008)
  • Author(s): M. Goto, R. Takashima, M. Tsujimura
  • Organizer: 日本リアルオプション学会2008年研究発表大会
  • Place of Presentation: 明海大学
  • Year and Date: 2008-11-09
• [Presentation] Choice of Three Investment Projects with Fixed and Quadratic Adjustment Costs under Uncertainty (2008)
  • Author(s): M. Goto, R. Takashima and M. Tsujimura
  • Organizer: Bachelier Finance Society Fifth World Congress
  • Place of Presentation: Imperial College, UK.
  • Year and Date: 2008-07-16
• [Presentation] Choice of Three Investment Projects with Fixed and Quadratic Adjustment Costs under Uncertainty (2008)
  • Author(s): M. Goto, R. Takashima, M. Tsujimura
  • Organizer: Bachelier Finance Society Fifth World Congress
  • Place of Presentation: Imperial College, UK
  • Year and Date: 2008-07-16
• [Remarks]
  • URL: http://mtsujimu.doshisha.ac.jp/
• [Remarks]
  • URL: http://mtsujimu.doshisha.ac.jp/
• [Remarks] ホームページ
  • URL: http://com.doshisha.ac.jp/tsujimura/
• [Remarks]
  • URL: http://www.econ.ryukoku.ac.jp/~tsujimura/research.php
• [Remarks]
  • URL: http://www.econ.ryukoku.ac.jp/~tsujimura/research.php