The Impact of Decision Biases and Risk on Capital Budgeting, which analyzes the Caterpillar organization and the impact of emerging markets on capital investment decisions.

Caterpillar is expanding to foreign markets with the introduction of their new hybrid/electric exoloader. Using Caterpillar's capital expenditure model (CapX), you will evaluate two scenarios:

Scenario A: Expanding and refocusing an existing production facility in Aurora, IL

Scenario B: Building a new facility in China

Case study in link

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2132944