Fisher [Resource Energy Econ. 22, 197-204 (2000)] offers a unifying framework for two concepts of (quasi-) option value suggested by Arrow, Fisher, Hanemann, and Henry (AFHH) on the one hand, and by Dixit and Pindyck (DP) on the other, and claims these two concepts to be equivalent. We show that...

Fisher (2000, this journal) offers a unifying framework for the concepts of quasi-option value, suggested by Arrow, Fisher, Hanemann, and Henry (AFHH), and the concept of real option value, suggested by Dixit and Pindyck (DP). He claims that the two concepts are equivalent. We argue that this...

In their article 'An Arbitrage-Free Approach to Quasi-Option Value' [J. Environm. Econom. Management 35, 103-125, 1998], Coggins and Ramezani interpreted the concept of quasi-option value - introduced by Arrow and Fisher [Quart. J. Econom. 88, 1974, 312-319] - as being identical to Dixit and...