Khajuria, Rajendra Prasad; Kant, Shashi; … - In: Land Economics 85 (2009) 4
The contingent-claims-based real options theory is used to value timber harvesting options in Ontario, Canada. Monthly prices from 1981 to 2006 are used for analysis, and different statistical tests, including structural breaks, are used to test the stationarity of prices. The tests show the...