Internal working papers DIUF

Internal working papers DIUF
The DIUF Working Papers collection is a series of research papers edited by the Department of Informatics of the University of Fribourg (Switzerland). This series exists since 1958, and is available in its entirety in electronic form since 2015. The content of the publications fits into the research themes of informatics, operational research and statistics.
The collection has been published under the names of the Institute of Automation (IAUF) from 1958 to 1995, the Laboratory of Informatics (LIUF) from 1986 to 1995, and the Institute of Informatics (IIUF) from 1995 to 2000.

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    Université de Fribourg

    COG-FPOM: adapted fuzzy pay-off method for real options valuation : application in the abandonment decision of petroleum producing fields

    Borges, R.E.P. ; Meier, Andreas

    (Internal working papers DIUF ; 17-01)

    This paper presents the COG-FPOM, a model based on the Fuzzy Pay-Off Method (FPOM). The FPOM is a scenario-based real option valuation method that uses fuzzy numbers as possibility distributions. The paper shows an unexpected result generated by the original FPOM, in which the real option would have a negative value. It further analyses its reasons and suggests a way to overcome it, by using the...