Introduces a framework for assessing asset transfer pathways, indicating implications for pricing transition risk.
This paper introduces the Exit Optionality Index (EOI), a structural framework for evaluating the diversity of legally and institutionally coherent transfer pathways available to an asset without requiring dissolution or reclassification. By isolating transition architecture from liquidity, EOI identifies structural exit constraints that remain invisible under price-based analysis, leading to systematic mispricing of transition risk in long-horizon assets.
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Mitt Chen (2026) studied this question.
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