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Real-options aspects of adjacency constraints

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  • Malchow-Moller, Nikolaj
  • Strange, Niels
  • Thorsen, Bo Jellesmark

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  • Malchow-Moller, Nikolaj & Strange, Niels & Thorsen, Bo Jellesmark, 2004. "Real-options aspects of adjacency constraints," Forest Policy and Economics, Elsevier, vol. 6(3-4), pages 261-270, June.
    • Handle: RePEc:eee:forpol:v:6:y:2004:i:3-4:p:261-270
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    1. Kenneth L. Judd, 1998. "Numerical Methods in Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262100711, December.
    2. Claude Henry, 1974. "Option Values in the Economics of Irreplaceable Assets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 89-104.
    3. Reed, William J., 1993. "The decision to conserve or harvest old-growth forest," Ecological Economics, Elsevier, vol. 8(1), pages 45-69, August.
    4. F. Christian Zinkhan, 1991. "Option Pricing and Timberland's Land-Use Conversion Option," Land Economics, University of Wisconsin Press, vol. 67(3), pages 317-325.
    5. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," Palgrave Macmillan Books, in: Chennat Gopalakrishnan (ed.), Classic Papers in Natural Resource Economics, chapter 4, pages 76-84, Palgrave Macmillan.
    6. Abildtrup, Jens & Strange, Niels, 2000. "The option value of non-contaminated forest watersheds," Forest Policy and Economics, Elsevier, vol. 1(2), pages 115-125, August.
    7. Stephen K. Swallow & Piyali Talukdar & David N. Wear, 1997. "Spatial and Temporal Specialization in Forest Ecosystem Management Under Sole Ownership," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(2), pages 311-326.
    8. Robert McDonald & Daniel Siegel, 1986. "The Value of Waiting to Invest," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 101(4), pages 707-727.
    9. Bowes, Michael D. & Krutilla, John V., 1985. "Multiple use management of public forestlands," Handbook of Natural Resource and Energy Economics, in: A. V. Kneese† & J. L. Sweeney (ed.), Handbook of Natural Resource and Energy Economics, edition 1, volume 2, chapter 12, pages 531-569, Elsevier.
    10. Hartman, Richard, 1976. "The Harvesting Decision When a Standing Forest Has Value," Economic Inquiry, Western Economic Association International, vol. 14(1), pages 52-58, March.
    11. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
    12. Markku Ollikainen & Erkki Koskela, 2001. "Optimal Private and Public Harvesting under Spatial and Temporal Interdependence," CESifo Working Paper Series 452, CESifo.
    13. Swallow Stephen K. & Wear David N., 1993. "Spatial Interactions in Multiple-Use Forestry and Substitution and Wealth Effects for the Single Stand," Journal of Environmental Economics and Management, Elsevier, vol. 25(2), pages 103-120, September.
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    Cited by:

    1. Strange, Niels & Jacobsen, Jette Bredahl & Thorsen, Bo Jellesmark, 2019. "Afforestation as a real option with joint production of environmental services," Forest Policy and Economics, Elsevier, vol. 104(C), pages 146-156.
    2. Dragicevic, Arnaud Z., 2020. "The economics of the Sylvo-Cynegetic equilibrium," Forest Policy and Economics, Elsevier, vol. 120(C).
    3. Jens Abildtrup & Jacques-Alexandre Laye & Maximilien Laye & Anne Stenger, 2012. "Irreversibility and Uncertainty in Multifunctional Forest Management Allocation," Post-Print hal-01072290, HAL.
    4. Koch, Nicolas & Reuter, Wolf Heinrich & Fuss, Sabine & Grosjean, Godefroy, 2017. "Permits vs. offsets under investment uncertainty," Resource and Energy Economics, Elsevier, vol. 49(C), pages 33-47.
    5. Hildebrandt, Patrick & Knoke, Thomas, 2011. "Investment decisions under uncertainty--A methodological review on forest science studies," Forest Policy and Economics, Elsevier, vol. 13(1), pages 1-15, January.
    6. Yemshanov, Denys & McCarney, Geoffrey R. & Hauer, Grant & Luckert, M.K. (Marty) & Unterschultz, Jim & McKenney, Daniel W., 2015. "A real options-net present value approach to assessing land use change: A case study of afforestation in Canada," Forest Policy and Economics, Elsevier, vol. 50(C), pages 327-336.
    7. Schou, Erik & Thorsen, Bo Jellesmark & Jacobsen, Jette Bredahl, 2015. "Regeneration decisions in forestry under climate change related uncertainties and risks: Effects of three different aspects of uncertainty," Forest Policy and Economics, Elsevier, vol. 50(C), pages 11-19.

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