Search results for "Present value"
showing 10 items of 44 documents
A sustainable phenolic compound extraction system from olive oil mill wastewater
2017
Abstract The reduction of environmental impact and the achievement of economic advantages based on by-product recovery is the aim of applying methodologies for phenolic compounds extraction from Olive Oil Mill Wastewater. Volume reduction of Olive Oil Mill Wastewater could generate important advantages in terms of waste disposal cost abatement and, in addition, reuse in the production of foods with health properties could lead to economic benefits. Despite the fact that literature shows that several techniques have been developed, few economic approaches have been presented. This paper assesses the economic feasibility of a system based on membrane filtration and reverse osmosis processes f…
Functional Data Analysis for Optimizing Strategies of Cash-Flow Management
2017
The cash management deals with problem of automating and managing cash-flow processes. Optimization of the management processes greatly reduces overall cash handling costs. The present analysis is an empirical study of cash flows, from and to bank branches, deriving an underlying theoretical framework, which can in a reasonable way be connected with the optimal strategy. Functional data analysis is considered an appropriate framework to analyze the dynamics of the time series behavior of cash flows: since the observations are not equally spaced in time and their number is different for each series, they are converted into a collection of random curves in a space spanned by finite dimensiona…
Smart multi-carrier energy system: Optimised energy management and investment analysis
2016
This paper proposes an optimised Energy Management System for a multi-carrier hub, which integrates two energy distribution networks, for hydrogen and electricity. The economic sustainability of a real-life instantiation of such a system has been analysed as well. The Energy Management System has been developed by means of a multi-objective optimisation algorithm, the Non-dominated Sorting Genetic Algorithm II, implemented using MATLAB®. The achieved results consist in a series of set-points defining the working conditions of the plant for a chosen time horizon. Data provided by this process also show the effectiveness of the adopted optimisation approach. The financial analysis is performe…
Strategic Behavior and Efficiency in the Common Property Extraction of Groundwater
2002
Groundwater has always been regarded as a common property resource where entry is restricted by land ownership and private exploitation is inefficient. In 1980, Gisser and Sanchez presented a first estimation of this inefficiency, cornparing socially optimal exploitation with private (competitive) exploitation using a model with linear water demand, average extraction cost independent of the rate of extraction and linearly decreasing with respect to the water table level. They characterized the private exploitation of the aquifer assuming that farmers are myopic and choose their rate of extraction to maximize their current profits, whereas optimal exploitation is obtained by maximizing the …
Incentive Properties of Residual Income when There is an Option to Wait
2005
Performance measures based on residual income are increasingly popular. The academic literature shows that residual income has important incentive properties when management bases investment decisions on the net present value (NPV) rule. My analysis focuses on the case in which investment decisions can be postponed, when management must extend the simple NPV rule by considering an option value. My analysis shows that some important incentive properties of residual income still hold when there is an option to wait, but only when the residual income measure is correctly adjusted. I also provide an incentive-based explanation of why the capital charge rate within firms is often significantly h…
Fixed Costs Per Shipment
2011
Exporting firms do not only decide how much of their products they ship abroad but also at which frequency. Doing so, they face a trade-off between saving on fixed costs per shipments (by shipping large amounts infrequently) and saving on storage costs (by delivering just in time with small and frequent shipments). The firm's optimal choice defines a mapping from size and frequency of shipments to fixed costs per shipment. We use a unique dataset of Swiss cross-border trade on the transaction level to analyze the size and shape of the underlying fixed costs. The data suggest that for the average Swiss exporter the fixed costs per shipment are economically important: 0.82 percent of the valu…
Economie assessments on the use of wired and wireless recharging systems in Italian and European market
2017
The conductive charging method for the electric vehicles is the most widespread, since it is the simplest and has higher returns. In the last years, alternative charging technologies have been investigated. Between these wireless charging systems have been large diffusion and have been commercialized by some manufacturer. Wireless charging systems for electric vehicles have some advantages respect the wired ones, not obliging the user to connect physically the vehicle to the electric charging station. Assuming the efficiency declared by the manufacturer of wireless systems the authors, in this paper, estimate the maximum cost that wireless recharging systems can have to be, however, more fa…
Economic analysis on the use of wired and wireless recharging systems
2017
Wireless charging systems for electric vehicles have some advantages respect the wired ones, not obliging the user to connect physically the vehicle to the electric charging station. However, at the same time, they have disadvantages linked to issues of electromagnetic compatibility and low efficiency. This study considers some scenarios for which both wired and wireless recharging systems can be adopted, with the aim of estimate the efficiency that must be guaranteed by wireless systems, so that its realization could be more favorable with respect to wired one. The estimation is developed by means of classical economic indexes, in the framework of Italian end European markets. Results repo…
Comparison between Different Dynamic Reconfigurations of Electrical Connections for partially shaded PV Modules
2018
This paper presents an economical investigation on the benefits related to the employment of reconfiguration systems for photovoltaic plants. More in detail, different structures of reconfigurators are proposed and, in order to evaluate the economical convenience on their installation, the Net Present Value is used as a validation element. Significant results are carried out from the proposed analysis.
Economic analysis of different supporting policies for the production of electrical energy by solar photovoltaics in western European Union countries
2010
Abstract Within various renewable energy technologies, photovoltaics (PV) today attracts considerable attention due to its potential to contribute a major share of renewable energy in the future. However, PV market development is, undoubtedly, dependent on the political support of any given country. In this paper, after a brief analysis of national support policies in PV technology in western European Union (EU) countries, the authors perform an economic analysis of the main support mechanisms as implemented in the same countries, based on the calculation of the cash flow, the Net Present Value (NPV) and the Internal Rate of Return (IRR) indices. The analysis shows that in some situations s…