This paper develops and tests a long-dated American call option pricing model for valuing development land under leasehold. We analyze and test option values in ten detailed Hong Kong cases involving purchase, holding, converting and developing land. We test also for optimal exercise of...

In this paper, a multi-objective optimization method has been established on a hybrid PV, wind, fuel cell, and battery system. The optimization is based on three models including energy supply reliability, electricity efficiency, and capital cost of the hybrid system. A new model of the Elephant...