Verena Hagspiel

Verena Hagspiel is an Associate Professor in the Department of Industrial Economics and Technology Management at the Norwegian University of Science and Technology. Her primary fields of interest are quantitative finance, industrial organization, microeconomics and operations management. Specifically she applies financial and operational methods for analyzing investment decisions under uncertainty. She is interested in how dynamics and uncertainty affect the firm’s investment and innovation behavior.

Recent News

  • PhD Winter School on Real Options and Commodity Markets, Tauplitz (Austria), March 18-23
    December 8, 2017
    We are organizing a Winter School on Real Options and Commodity Markets in Tauplitz, Austria, 18-23 March 2018. The winter school aims to bring together 30 PhD students with international experts in the field of real options and/or commodity finance. The lecturers will convey state-of-the art knowledge as well as recent advances on real options analysis and commodity finance with a special focus on energy markets. All lecturers will be available for discussion throughout the week. For more information see: Register fast - places are allocated at a first come basis!
  • New Knowledge-building Project for Industry received funding from the ENERGIX program of the Norwegian Research Council
    January 20, 2017
    Investment under uncertainty in the future energy system: The role of expectations and learning EU's and Norway's ambitious climate and energy targets need to be fulfilled by making many small and large investment decisions. Each of these need to balance organizational objectives, profitability, and sustainability concerns, and will be made under considerable uncertainty regarding the future energy system. InvestExL will develop knowledge that assists decision makers and policy makers, using active learning to support investment processes in the Norwegian energy system, while at the same time delivering scientific contributions at the forefront of real options theory in the direction...
  • 1st YARO Workshop
    November 17, 2016
    The YARO workshop is a 2 day event and provides an opportunity for PhD students, post-doctoral researchers and other young academics to share their research and debate approaches as well as network with like-minded fellow researchers. We welcome real options papers from any field, e.g., competition and strategy, R&D, entrepreneurship and innovation, new product development, capabilities, infrastructure and network investments, valuation of natural resources, commodities and power investments, growth options, corporate valuation and IPOs, investments involving learning, agency issues and incentives, environmental protection and public policy.

Recent articles

    Real options under technological uncertainty: A case study of investment in a post-smolt facility in Norway
    Verena Hagspiel, Jørgen Hannevik, Maria Lavrutich, Magnus Naustdal, Henrik Struksnæs, Marine Policy, Volume 88, February 2018, Pages 158-166
    Stepwise Investment and Capacity Sizing under Uncertainty
    M. Chronopolous, V. Hagspiel, S.-E. Fleten, OR Spectrum, Volume 39, Issue 2, March 2017, pp 447–472
    Investment in Mutually Exclusive Transmission Projects under Policy Uncertainty
    I. Bakke, S.-E. Fleten, L. I. Hagfors, V. Hagspiel, B. Norheim, Journal of Commodity Markets, Volume 3, Issue 1, September 2016, Pages 54-69
    Valuing quantity flexibility under supply-chain disintermediation risk
    V. Hagspiel, I. Bicer, Volume 180, October 2016, Pages 1-15, International Journal of Production Economics

For students

Make sure to visit the For Students page, if you are a student looking for more information regarding your masters’s, project or PhD thesis.