A second order moment approach for addressing the uncertainty around financial variables in life cycle costing (LCC) analysis

Yuting Sun
Since the 1990s, governments’ growing interest in sustainability has promoted widespread adoption of life cycle costing (LCC) in investment appraisal. LCC relies on the estimates of financial variables that contain acknowledged uncertainty. Despite numerous probabilistic studies in the literature, the influence of uncertainty is still unclear because conventional approaches are data-intensive and/or computationally complex. In this light, the thesis aims to develop an improved approach with second order moment thinking, and explicitly identify the influence...
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