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Default and Abandonment Option in Motorway Concessions

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Academic year: 2020

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Figure

Fig. 1. Value of the abandonment option (thousands of Euros) in each exercise date
Fig. 1 shows, besides the base case, the results obtained for larger values of traffic volatilities
Fig. 7. Probability of exercising the abandonment option at some point during the operation, for different degrees of leverage

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