WP_Query Object
(
[query] => Array
(
[post_type] => publications
[posts_per_page] => -1
[meta_query] => Array
(
[0] => Array
(
[key] => author
[value] => 14561
[compare] => LIKE
)
)
)
[query_vars] => Array
(
[post_type] => publications
[posts_per_page] => -1
[meta_query] => Array
(
[0] => Array
(
[key] => author
[value] => 14561
[compare] => LIKE
)
)
[error] =>
[m] =>
[p] => 0
[post_parent] =>
[subpost] =>
[subpost_id] =>
[attachment] =>
[attachment_id] => 0
[name] =>
[pagename] =>
[page_id] => 0
[second] =>
[minute] =>
[hour] =>
[day] => 0
[monthnum] => 0
[year] => 0
[w] => 0
[category_name] =>
[tag] =>
[cat] =>
[tag_id] =>
[author] =>
[author_name] =>
[feed] =>
[tb] =>
[paged] => 0
[meta_key] =>
[meta_value] =>
[preview] =>
[s] =>
[sentence] =>
[title] =>
[fields] =>
[menu_order] =>
[embed] =>
[category__in] => Array
(
)
[category__not_in] => Array
(
)
[category__and] => Array
(
)
[post__in] => Array
(
)
[post__not_in] => Array
(
)
[post_name__in] => Array
(
)
[tag__in] => Array
(
)
[tag__not_in] => Array
(
)
[tag__and] => Array
(
)
[tag_slug__in] => Array
(
)
[tag_slug__and] => Array
(
)
[post_parent__in] => Array
(
)
[post_parent__not_in] => Array
(
)
[author__in] => Array
(
)
[author__not_in] => Array
(
)
[ignore_sticky_posts] =>
[suppress_filters] =>
[cache_results] => 1
[update_post_term_cache] => 1
[lazy_load_term_meta] => 1
[update_post_meta_cache] => 1
[nopaging] => 1
[comments_per_page] => 50
[no_found_rows] =>
[order] => DESC
)
[tax_query] => WP_Tax_Query Object
(
[queries] => Array
(
)
[relation] => AND
[table_aliases:protected] => Array
(
)
[queried_terms] => Array
(
)
[primary_table] => wp_posts
[primary_id_column] => ID
)
[meta_query] => WP_Meta_Query Object
(
[queries] => Array
(
[0] => Array
(
[key] => author
[value] => 14561
[compare] => LIKE
)
[relation] => OR
)
[relation] => AND
[meta_table] => wp_postmeta
[meta_id_column] => post_id
[primary_table] => wp_posts
[primary_id_column] => ID
[table_aliases:protected] => Array
(
[0] => wp_postmeta
)
[clauses:protected] => Array
(
[wp_postmeta] => Array
(
[key] => author
[value] => 14561
[compare] => LIKE
[compare_key] => =
[alias] => wp_postmeta
[cast] => CHAR
)
)
[has_or_relation:protected] =>
)
[date_query] =>
[request] =>
SELECT wp_posts.*
FROM wp_posts INNER JOIN wp_postmeta ON ( wp_posts.ID = wp_postmeta.post_id )
WHERE 1=1 AND (
( wp_postmeta.meta_key = 'author' AND wp_postmeta.meta_value LIKE '{c868d18a4d12ce279d77a1eb164472b2c5ecee17e20c620046bff2971e75ce42}14561{c868d18a4d12ce279d77a1eb164472b2c5ecee17e20c620046bff2971e75ce42}' )
) AND ((wp_posts.post_type = 'publications' AND (wp_posts.post_status = 'publish' OR wp_posts.post_status = 'acf-disabled' OR wp_posts.post_status = 'wc-fraud-screen' OR wp_posts.post_status = 'wc-authorised')))
GROUP BY wp_posts.ID
ORDER BY wp_posts.post_date DESC
[posts] => Array
(
[0] => WP_Post Object
(
[ID] => 28102
[post_author] => 1
[post_date] => 1992-01-01 00:00:39
[post_date_gmt] => 1992-01-01 00:00:39
[post_content] => Irreversible investment under uncertainty has recently received a considerable amount of attention in the theoretical literature [McDonald and Siege1 (19861, Dixit (1989, 1991), Pindyck (1988, 1989), Ingersoll and Ross (1990)’ Bertola (1990)]. When an investment decision is costly to reverse and the payoffs are uncertain, the investment decision involves comparing the value of investing today with the present value of investing at all possible times in the future. The investment expenditure involves the cost of ‘exercising the option’ to invest at any time in the future and a project is adopted only when the expected payoff exceeds the cost by an amount equal to the value of the option. Option pricing techniques have been used to examine the determinants of irreversible investment under uncertainty, and show that even risk-neutral firms may be reluctant to invest when the future is uncertain. Oil investment in the North Sea is an example of irreversible investment. It involves three separate but highly interrelated activities: exploration, development of the oilfield, and extraction, We claim that on the United Kingdom Continental Shelf (IJKCS) the irreversible decision is made when development is undertaken. In other words, the exploration activity provides the firm with the option to invest, whose value is affected by the uncertainty that surrounds future oil prices.
[post_title] => Uncertainty & Irreversible Investment: An Empirical Analysis of Development of Oilfields on the UKCS
[post_excerpt] =>
[post_status] => publish
[comment_status] => closed
[ping_status] => closed
[post_password] =>
[post_name] => uncertainty-irreversible-investment-an-empirical-analysis-ofdevelopment-of-oilfields-on-the-ukcs
[to_ping] =>
[pinged] =>
[post_modified] => 2016-03-01 16:06:24
[post_modified_gmt] => 2016-03-01 16:06:24
[post_content_filtered] =>
[post_parent] => 0
[guid] => https://www.oxfordenergy.org/wpcms/publications/uncertainty-irreversible-investment-an-empirical-analysis-ofdevelopment-of-oilfields-on-the-ukcs/
[menu_order] => 0
[post_type] => publications
[post_mime_type] =>
[comment_count] => 0
[filter] => raw
)
)
[post_count] => 1
[current_post] => -1
[in_the_loop] =>
[post] => WP_Post Object
(
[ID] => 28102
[post_author] => 1
[post_date] => 1992-01-01 00:00:39
[post_date_gmt] => 1992-01-01 00:00:39
[post_content] => Irreversible investment under uncertainty has recently received a considerable amount of attention in the theoretical literature [McDonald and Siege1 (19861, Dixit (1989, 1991), Pindyck (1988, 1989), Ingersoll and Ross (1990)’ Bertola (1990)]. When an investment decision is costly to reverse and the payoffs are uncertain, the investment decision involves comparing the value of investing today with the present value of investing at all possible times in the future. The investment expenditure involves the cost of ‘exercising the option’ to invest at any time in the future and a project is adopted only when the expected payoff exceeds the cost by an amount equal to the value of the option. Option pricing techniques have been used to examine the determinants of irreversible investment under uncertainty, and show that even risk-neutral firms may be reluctant to invest when the future is uncertain. Oil investment in the North Sea is an example of irreversible investment. It involves three separate but highly interrelated activities: exploration, development of the oilfield, and extraction, We claim that on the United Kingdom Continental Shelf (IJKCS) the irreversible decision is made when development is undertaken. In other words, the exploration activity provides the firm with the option to invest, whose value is affected by the uncertainty that surrounds future oil prices.
[post_title] => Uncertainty & Irreversible Investment: An Empirical Analysis of Development of Oilfields on the UKCS
[post_excerpt] =>
[post_status] => publish
[comment_status] => closed
[ping_status] => closed
[post_password] =>
[post_name] => uncertainty-irreversible-investment-an-empirical-analysis-ofdevelopment-of-oilfields-on-the-ukcs
[to_ping] =>
[pinged] =>
[post_modified] => 2016-03-01 16:06:24
[post_modified_gmt] => 2016-03-01 16:06:24
[post_content_filtered] =>
[post_parent] => 0
[guid] => https://www.oxfordenergy.org/wpcms/publications/uncertainty-irreversible-investment-an-empirical-analysis-ofdevelopment-of-oilfields-on-the-ukcs/
[menu_order] => 0
[post_type] => publications
[post_mime_type] =>
[comment_count] => 0
[filter] => raw
)
[comment_count] => 0
[current_comment] => -1
[found_posts] => 1
[max_num_pages] => 0
[max_num_comment_pages] => 0
[is_single] =>
[is_preview] =>
[is_page] =>
[is_archive] => 1
[is_date] =>
[is_year] =>
[is_month] =>
[is_day] =>
[is_time] =>
[is_author] =>
[is_category] =>
[is_tag] =>
[is_tax] =>
[is_search] =>
[is_feed] =>
[is_comment_feed] =>
[is_trackback] =>
[is_home] =>
[is_privacy_policy] =>
[is_404] =>
[is_embed] =>
[is_paged] =>
[is_admin] =>
[is_attachment] =>
[is_singular] =>
[is_robots] =>
[is_favicon] =>
[is_posts_page] =>
[is_post_type_archive] => 1
[query_vars_hash:WP_Query:private] => 4cdc4adac00d5dc4758d129fc4283dd1
[query_vars_changed:WP_Query:private] =>
[thumbnails_cached] =>
[stopwords:WP_Query:private] =>
[compat_fields:WP_Query:private] => Array
(
[0] => query_vars_hash
[1] => query_vars_changed
)
[compat_methods:WP_Query:private] => Array
(
[0] => init_query_flags
[1] => parse_tax_query
)
)
Irreversible investment under uncertainty has recently received a considerable amount of attention in the theoretical literature [McDonald and Siege1 (19861, Dixit (1989, 1991), Pindyck (1988, 1989), Ingersoll and Ross (1990)’ Bertola (1990)]. When an investment decision is costly to reverse and the payoffs are uncertain, the investment decision involves comparing the value of investing today […]
New OIES Podcast - Impact of Russia-Ukraine War on Energy Markets Series – 19 - https://t.co/0FcvKHb9Xy https://t.co/8JM0x5VEtQ
New OIES Podcast - Global trade of hydrogen: what is the best way to transfer hydrogen over long distances? -… https://t.co/f2RXSyDv38
OIES Oil Monthly – Issue 17 https://t.co/3SeErX6gQU
New OIES Energy Insight - Greenhouse Gas Emissions from LNG Trade: from carbon neutral to GHG-verified -… https://t.co/RsoqWfj7Xu
Register your email address here and we will send you notification of new publications, comment, articles etc. automatically.