This paper presents the economic evaluationfrom a hospital’s perspective of the investment inpositron emission tomography, adopting a real optionsapproach. The installation of this equipment requiresa major capital outlay, while uncertainty on severalkey variables is substantial. The value of several timingstrategies, including sequential investment, is determinedtaking into account that future decisions will bebased on the information available at that time. Theresults show that adopting this approach may have animpact on the timing of investment, because postponingthe investment may be optimal even when the ExpectedNet Present Value of the project is positive.
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