![]() Sustainability 10(7):2507 (2018)Ĭasals, L., Martinez Laserna, E., García, B., Nieto, N.: Sustainability analysis of the electric vehicle use in Europe for CO \(_2\) emissions reduction. 104(47), 18866–18870 (2007)Ĭansino JM., Sánchez-Braza A., Sanz-Díaz T.: Policy instruments to promote electro-mobility in the EU28: a comprehensive review. 33, 26–38 (2014)Ĭanadell, J., Le Quere, C., Raupach, M., Field, C., Buitenhuis, E., Ciais, P., Marland, G.: Contributions to accelerating atmospheric CO \(_2\) growth from economic activity, carbon intensity, and efficiency of natural sinks. ![]() Birkhäuser, Basel (2002)īuekers, J., Van Holderbeke, M., Bierkens, J., Panis, L.: Health and environmental benefits related to electric vehicle introduction in EU countries. 279(2), 635–644 (2019)īorodin, W., Salminen, P.: Handbook of Brownian Motion-Facts and Formulae, 2nd edn. 69, 94–108 (2013)īigerna, S., Wen, X., Hagspiel, V., Kort, P.: Flexible lease contracts in the fleet replacement problem with alternative fuel vehicles: a real-options approach. Technical report, High Institute for Transport Education and Researchīelis, C., Karagulian, F., Larsen, B.R., Hopke, P.: Critical review and meta-analysis of ambient particulate matter source apportionment using receptor models in Europe. ![]() 54(2), 315–337 (2001)Īnsaripoor, A.H., Oliveira, F.S.: Flexible lease contracts in the fleet replacement problem with alternative fuel vehicles: a real-options approach. 10(3), 51 (2019)Īlvarez, L.H.: Reward functionals, salvage values, and optimal stopping. Energy Policy 87, 1–7 (2015)Īgaton, C., Guno, C., Villanueva, R., Villanueva, R.: Diesel or electric jeepney? A case study of transport investment in the philippines using the real options approach. We observe that incentive and traffic bans on fossil-fueled transport can be used as effective tools in the hand of the policymaker to encourage the adoption of electric vehicles and hence to reduce air pollution.Ībdul-Manan, A.: Uncertainty and differences in GHG emissions between electric and conventional gasoline vehicles with implications for transport policy making. Moreover, we study the effect of traffic bans and incentive on the expected optimal switching time. In such a setting, we provide a model calibration on real data from Italy, and we study the dependency of the optimal switching time with respect to the model’s parameters. After determining the optimal switching time and the minimal cost function for a general diffusive opportunity cost, we specialize to the case of a mean-reverting process. This involves a combination of various types of costs: the stochastic opportunity cost of driving one-unit distance with a traditional fossil-fueled vehicle instead of an electric one, the cost associated to traffic bans, and the net purchase cost. A policymaker promotes the abeyance of fossil-fueled vehicles through an incentive, and the representative fossil-fueled vehicle’s owner decides the time at which buying an electric vehicle, while minimizing a certain expected cost. In this paper we propose and solve a real options model for the optimal adoption of an electric vehicle.
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