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Option Value of Soil, An Irreplaceable Asset From The Social Point of View

Author

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  • Segarra, Eduardo
  • Taylor, Daniel B.

Abstract

A model in which option value and option price of soil are introduced is used to show that the irreversibility-effect of soil depletion, coupled with the mere prospect of obtaining fuller information in the future, generates a positive option value for soil which could lead to conserve the soil resource.

Suggested Citation

  • Segarra, Eduardo & Taylor, Daniel B., 1985. "Option Value of Soil, An Irreplaceable Asset From The Social Point of View," 1985 Annual Meeting, August 4-7, Ames, Iowa 278547, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  • Handle: RePEc:ags:aaea85:278547
    DOI: 10.22004/ag.econ.278547
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    File URL: https://ageconsearch.umn.edu/record/278547/files/aaea-1985-030.pdf
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    References listed on IDEAS

    as
    1. Charles J. Cicchetti & A. Myrick Freeman III, 1971. "Option Demand and Consumer Surplus: Further Comment," The Quarterly Journal of Economics, Oxford University Press, vol. 85(3), pages 528-539.
    2. Bohm, Peter, 1975. "Option Demand and Consumer's Surplus: Comment," American Economic Review, American Economic Association, vol. 65(4), pages 733-736, September.
    3. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, Oxford University Press, vol. 88(2), pages 312-319.
    4. Burton A. Weisbrod, 1964. "Collective-Consumption Services of Individual-Consumption Goods," The Quarterly Journal of Economics, Oxford University Press, vol. 78(3), pages 471-477.
    5. Schmalensee, Richard, 1972. "Option Demand and Consumer's Surplus: Valuing Price Changes under Uncertainty," American Economic Review, American Economic Association, vol. 62(5), pages 813-824, December.
    6. Henry, Claude, 1974. "Investment Decisions Under Uncertainty: The "Irreversibility Effect."," American Economic Review, American Economic Association, vol. 64(6), pages 1006-1012, December.
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