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Hedging Strategies in Forest Management
Brunette, Marielle; Couture, Stephane; Langlais, Eric - Laboratoire d'Économie Forestière, Département … - 2007
The paper focuses on the choice of forest management strategies for natural hazards by nonindustrial owners, when forest provides nontimber services. We introduce a basic two-period model where the private owner hedges against natural hazards on his/her forest thanks to financial strategies...
Persistent link: https://www.econbiz.de/10005466658
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Insurance Demand for Disaster-type Risks and the Separation of Attitudes toward Risk and Ambiguity: an Experimental Study
Brunette, Marielle; Cabantous, Laure; Couture, Stéphane; … - Laboratoire d'Économie Forestière, Département … - 2008
support for the hypothesis that attitude to risk and attitude to ambiguity are two independent phenomena. In fact in this … experiment, decision-makers are both risk-seekers (i.e., the mean WTP for insurance is on average smaller than the expected value … of the loss) and ambiguity averse (i.e., the mean WTP for insurance is on average higher for an ambiguous risk than for a …
Persistent link: https://www.econbiz.de/10005466665
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Contrasting Two Approaches in Real Options Valuation : Contingent Claims versus Dynamic Programming
Insley, Margaret C.; Wirjanto, Tony S. - 2013
:contingent claims (CC) with risk neutral valuation and dynamic programming (DP) using a constant risk adjusted discount rate … (such as futures prices) that allow the estimation of the market price of risk or convenience yield. Even when such data do … the prices of different sources of risk …
Persistent link: https://www.econbiz.de/10014219615
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Insurance Demand for Disaster-Type Risks and the Separation of Attitudes Toward Risk and Ambiguity : An Experimental Study
Marielle, Brunette - 2011
support for the hypothesis that attitude to risk and attitude to ambiguity are two independent phenomena. In fact in this … experiment, decision-makers are both risk-seekers (i.e., the mean WTP for insurance is on average smaller than the expected value … of the loss) and ambiguity averse (i.e., the mean WTP for insurance is on average higher for an ambiguous risk than for a …
Persistent link: https://www.econbiz.de/10013127788
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Irreversibilities and the optimal timing of environmental policy under Knightian uncertainty
Asano, Takao (contributor) - 2005
In this paper, we consider a problem in environmental policy design by applying optimal stopping rules. The purpose of this paper is to analyze the optimal timings at which the government should adopt environmental policies to deal with increases in greenhouse gas concentrations and to reduce...
Persistent link: https://www.econbiz.de/10003154571
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Irreversibilities and the Optimal Timing of Environmental Policy Under Knightian Uncertainty
Asano, Takao - 2006
In this paper, we consider a problem in environmental policy design by applying optimal stopping rules. The purpose of this paper is to analyze the optimal timings at which the government should adopt environmental policies to deal with increases in greenhouse gas concentrations and to reduce...
Persistent link: https://www.econbiz.de/10012735092
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Should Faustmann forecast climate change?
Gars, Johan; Spiro, Daniel - 2019
Climate change is predicted to substantially alter forest growth. Optimally, forest owners should take these future changes into account when making rotation decisions today. However, the fundamental uncertainty surrounding climate change makes predicting these shifts hard. Hence, this paper...
Persistent link: https://www.econbiz.de/10012015877
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Amenities and Risk in Forest Management
Couture, Stephane; Marielle, Brunette; Langlais, Eric - 2011
The objective of the paper is to analyze the risk management behavior of a non-industrial private forest owner under … regeneration process for physical practice) and the expected risk. We show, for example, that an increase in the expected risk has …
Persistent link: https://www.econbiz.de/10014209855
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Effects of litigation under the Endangered Species Act on forest firm values
Sun, Changyou; Liao, Xianchun - In: Journal of Forest Economics 17 (2011) 4, pp. 388-398
risk reflected the reaction of the stock market to the verdict announcements. Programs designed for habitat conservation …
Persistent link: https://www.econbiz.de/10010572991
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Risks of Cryogenic Landslide Hazards and Their Impact on Ecosystems in Cold Environments
Lemenkova, Polina - 2019
This paper focuses on monitoring of landscapes downgrading in specific conditions of Arctic ecosystems with cold climate conditions (marshes, permafrost, high humidity and moisture). The paper has a special focus on spatiotemporal assessment of land cover types changes in using GIS answering...
Persistent link: https://www.econbiz.de/10014108662