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Real Options Value of Plant P Fig. 2, Kobari & Lawryshyn, p. 481 20 7000 Number of plants which have started their FEED phase -6000

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Real Options Value of Plant P Fig. 2, Kobari & Lawryshyn, p. 481 20 7000 Number of plants which have started their FEED phase -6000 . . Real options value of plant P 15- - X Wait 15000 V Construct 4000 > >3000 Real options value of P (MS) have started their FEED phase 10 Number of plants which 2000 1000 1000 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 Construction XXXXXXXXXXXXXX

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