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...

Roughly two billion people live in areas that regularly suffer from conflict, violence, and instability. Infrastructure development in those areas is very difficult to implement and fund. As an example, electrification systems face major challenges such as ensuring the security of the workforce...

The purpose of this paper is to give an overview of the economic literature on transboundary pollution. In particular the focus is 011 the most recent literature which incorporates behavioral assumptions with the help of game theory. In the first section the general context is introduced. and...

Transboundary pollution is pollution that is emitted in one country, and deposited or causing harm in another country. Due to the absence of a supranational institution that could enforce international legislation, transboundary externalities cannot be approached in the same way as domestic...