What is the relevance of option pricing for forest valuation in New Zealand?
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References listed on IDEAS
- Clarke, Harry R. & Reed, William J., 1989.
"The tree-cutting problem in a stochastic environment : The case of age-dependent growth,"
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- Harry R Clarke & William J. Reed, 1989. "The Tree-Cutting Problem in a Stochastic Environment: The case of Age Dependent Growth," Working Papers 1989.01 EDIRC Provider-In, School of Economics, La Trobe University.
- Gjolberg, Ole & Guttormsen, Atle G., 2002. "Real options in the forest: what if prices are mean-reverting?," Forest Policy and Economics, Elsevier, vol. 4(1), pages 13-20, May.
- Reed, William J., 1993. "The decision to conserve or harvest old-growth forest," Ecological Economics, Elsevier, vol. 8(1), pages 45-69, August.
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- Gong, Peichen & Löfgren, Karl Gustaf, 2007. "Market and welfare implications of the reservation price strategy for forest harvest decisions," Journal of Forest Economics, Elsevier, vol. 13(4), pages 217-243, November.
- Guthrie, Graeme & Kumareswaran, Dinesh, 2003. "Carbon Subsidies and Optimal Forest Management," Working Paper Series 3879, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
- Thomas A. Thomson, 1992. "Optimal Forest Rotation When Stumpage Prices Follow a Diffusion Process," Land Economics, University of Wisconsin Press, vol. 68(3), pages 329-342.
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- Alan L. Lewis, 2000. "Option Valuation under Stochastic Volatility," Option Valuation under Stochastic Volatility, Finance Press, number ovsv, June.
- Morck, Randall & Schwartz, Eduardo & Stangeland, David, 1989. "The Valuation of Forestry Resources under Stochastic Prices and Inventories," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 24(04), pages 473-487, December.
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CitationsCitations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
- Sunderasan Srinivasan, 2015. "Economic valuation and option-based payments for ecosystem services," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 20(7), pages 1055-1077, October.
- repec:eee:forpol:v:85:y:2017:i:p1:p:76-84 is not listed on IDEAS
- James Tee & Riccardo Scarpa & Dan Marsh & Graeme Guthrie, 2014. "Forest Valuation under the New Zealand Emissions Trading Scheme: A Real Options Binomial Tree with Stochastic Carbon and Timber Prices," Land Economics, University of Wisconsin Press, vol. 90(1), pages 44-60.
- Tee, James & Scarpa, Riccardo & Marsh, Dan & Guthrie, Graeme, 2010. "A Binomial Tree Approach to Valuing Fixed Rotation Forests and Flexible Rotation Forests Under a Mean Reverting Timber Price Process," 2010 Conference, August 26-27, 2010, Nelson, New Zealand 96836, New Zealand Agricultural and Resource Economics Society.
- Tee, James & Scarpa, Riccardo & Marsh, Dan & Guthrie, Graeme, 2011. "Climate Change Mitigation Policy: The Effect of the New Zealand Emissions Trading Scheme on New Radiata Pine Forest Plantations in New Zealand," 2011 Conference (55th), February 8-11, 2011, Melbourne, Australia 100703, Australian Agricultural and Resource Economics Society.
- Manley, Bruce, 2013. "How does real option value compare with Faustmann value in the context of the New Zealand Emissions Trading Scheme?," Forest Policy and Economics, Elsevier, vol. 30(C), pages 14-22.
More about this item
KeywordsForest valuation Option value Stochastic prices Rotation age;
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