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On option values in environmental and resource economics
Traeger, Christian P. - In: Resource and Energy Economics 37 (2014) C, pp. 242-252
irreversibility and uncertainty change the value of preserving an ecosystem or postponing an investment. This paper shows the precise …
Persistent link: https://www.econbiz.de/10011261594
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What's the Option?
Traeger, Chirstian - Department of Agricultural and Resource Economics, … - 2013
costs and benefits. Two concepts measure how this combination of uncertainty and irreversibility changes the value of …
Persistent link: https://www.econbiz.de/10010681146
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Corporate environmental protection under uncertainty
Aslaksen, Iulie; Synnestvedt, Terje - 2003
Investment in pollution prevention technologies are often made under significant uncertainty about the future pay … the timing of investments becomes an important issue for the company. This paper focuses on uncertainty about a future … environmental tax, and shows, within a two period model, that a specific tax uncertainty, standing alone, does not create any …
Persistent link: https://www.econbiz.de/10011968125
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Are the Dixit-Pindyck and the Arrow-Fisher-Henry-Hanemann Option Values Equivalent?
Aslaksen, Iulie; Synnestvedt, Terje - 2004
The relationship between the concept of option value in the literature on environmental preservation and the financial theory of option value is discussed by Fisher (2000), suggesting an equivalence between the two concepts. In a recent paper, Mensink and Requate (2004) argue that Fisher's claim...
Persistent link: https://www.econbiz.de/10011968160
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Are the Dixit-Pindyck and the Arrow-Fisher-Henry-Hanemann Option Values Equivalent?
Aslaksen, Iulie; Synnestvedt, Terje - Statistisk Sentralbyrå, Government of Norway - 2004
The relationship between the concept of option value in the literature on environmental preservation and the financial theory of option value is discussed by Fisher (2000), suggesting an equivalence between the two concepts. In a recent paper, Mensink and Requate (2004) argue that Fisher’s...
Persistent link: https://www.econbiz.de/10004980616
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Corporate environmental protection under uncertainty
Aslaksen, Iulie; Synnestvedt, Terje - Statistisk Sentralbyrå, Government of Norway - 2003
Investment in pollution prevention technologies are often made under significant uncertainty about the future pay … the timing of investments becomes an important issue for the company. This paper focuses on uncertainty about a future … environmental tax, and shows, within a two period model, that a specific tax uncertainty, standing alone, does not create any …
Persistent link: https://www.econbiz.de/10004980933
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The Economic Threshold with a Stochastic Pest Population: a Real Option Approach
Saphores, Jean-Daniel M. - Département d'Économique, Université Laval - 1999
Using real options, we formulate an optimal stopping model for applying pest control measures when the density of a pest population fluctuates randomly. This model is applied to the control of a foliar pest of apples (the European Red Mite) via a pesticide, and solved numerically by a...
Persistent link: https://www.econbiz.de/10005067710
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Adapting long-lived investments under climate change uncertainty
Eisenack, Klaus; Paschen, Marius - In: Journal of Environmental Economics and Management 116 (2022)
climate changes faster, and increases if uncertainty is higher. For long-lived investments, these effects reverse. This has …
Persistent link: https://www.econbiz.de/10013475329
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The social cost of carbon with intragenerational inequality under economic uncertainty
Ploeg, Frederick van der; Emmerling, Johannes; Groom, … - 2022
A formula is derived for the social cost of carbon (SCC) that takes account of intragenerational income inequality and its evolution with economic growth. The social discount rate (SDR) should be adjusted to account for intragenerational and intergenerational inequality aversion and for risk...
Persistent link: https://www.econbiz.de/10013206181
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Education choice under uncertainty and public policy
Hogan, Vincent; Walker, Ian - 2003
We analyse how progressive taxation and education subsidies affect schooling decisions when the returns to education are stochastic. We use the theory of real options to solve the problem of education choice in a dynamic, life-cycle consistent, stochastic model. We show that education attainment...
Persistent link: https://www.econbiz.de/10010293835