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Landowner Decisions under Uncertainty and Irreversibility: Incorporating option value into Conservation Reserve Program enrollment

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  • Khadka, Rita
  • Schoengold, Karina
  • Mieno, Taro

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Suggested Citation

  • Khadka, Rita & Schoengold, Karina & Mieno, Taro, 2026. "Landowner Decisions under Uncertainty and Irreversibility: Incorporating option value into Conservation Reserve Program enrollment," 2026 Annual Meeting, July 26 - 28, 2026, Kansas City, Missouri 404742, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea26:404742
    DOI: 10.22004/ag.econ.404742
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    References listed on IDEAS

    as
    1. Luca Corato & Michele Moretto & Sergio Vergalli, 2013. "Land conversion pace under uncertainty and irreversibility: too fast or too slow?," Journal of Economics, Springer, vol. 110(1), pages 45-82, September.
    2. Payal Shah & Amy W. Ando, 2016. "Permanent and Temporary Policy Incentives for Conservation under Stochastic Returns from Competing Land Uses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(4), pages 1074-1094.
    3. Schatzki, Todd, 2003. "Options, uncertainty and sunk costs:: an empirical analysis of land use change," Journal of Environmental Economics and Management, Elsevier, vol. 46(1), pages 86-105, July.
    4. Babcock, Bruce A. & Lakshminarayan, P. G. & Wu, JunJie & Zilberman, David, 1996. "Economics of a Public Fund for Environmental Amenities (The)," Staff General Research Papers Archive 1065, Iowa State University, Department of Economics.
    5. David Zilberman, 1996. "The Economics of a Public Fund for Environmental Amenities: A Study of CRP Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 961-971.
    6. JunJie Wu & Haixia Lin, 2010. "The Effect of the Conservation Reserve Program on Land Values," Land Economics, University of Wisconsin Press, vol. 86(1), pages 1-21.
    7. DeJong, David N. & Nankervis, John C. & Savin, N. E. & Whiteman, Charles H., 1992. "The power problems of unit root test in time series with autoregressive errors," Journal of Econometrics, Elsevier, vol. 53(1-3), pages 323-343.
    8. Blough, Stephen R, 1992. "The Relationship between Power and Level for Generic Unit Root Tests in Finite Samples," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 7(3), pages 295-308, July-Sept.
    9. Wachenheim, Cheryl J. & Lesch, William C. & Dhingra, Neeraj, 2014. "The Conservation Reserve Program: A Literature Review," Agribusiness & Applied Economics Report 164829, North Dakota State University, Department of Agribusiness and Applied Economics.
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