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In the current research trend, numerous publications dealing with investment decisions focus on modeling approaches adapted to the liberalized electricity market. Among these, short-term risks are however seldom sufficiently considered due to the significantly simplified modeling of unit commitment. Within this paper, a short-term unit commitment model with a high level of detail is extended into a long-term model with investment decisions based on typical hours. As the most innovative part, an algorithm is introduced to effectively identify the chronological relation among the typical hours and to transform the real hour based constraints to typical hour based formulations.