The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many studies that...

The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many papers that analyze...

The Arrow-Fisher-Henry (AFH) analysis of land development under uncertainty has been conducted in a two period model. In contemporary times, Capozza and Helsley (1990), Batabyal (1996, 1997, 2000), and others have analyzed the question of land development under uncertainty in a multi-period...

Recently, Batabyal and Yoo (2003) have studied aspects of indivisible and divisible land development in a dynamic and stochastic framework. In this note, we complement the analysis in this paper by examining an aspect of the indivisible land development decision when a landowner has an...

The Arrow-Fisher-Henry (AFH) analysis of land development under uncertainty has been conducted in a 2 period setting. In recent times, Capozza and Helsley (1990), Batabyal (1996, 1997, 2000), and other researchers have studied the issue of land development under uncertainty in a many time...

The concept of a reservation value is a key feature of most contemporary dynamic and probabilistic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many articles that...

In this paper, we use data from Guatemala to map areas that are important for the provision of indirect ecosystem services—services whose benefits are enjoyed at some distance from the ecosystem that provides them, such as watershed services (enjoyed downstream) or biodiversity conservation...

The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many papers that analyze...

The impact of organized crime on inter-regional price disparities in Russia is estimated for each year from 1992 to 2000, and over the panel of 1993-2000, using a sample of 70 Russian regions, and that of 50 regions from the European part of the country. The relationship between prices and crime...

In the context of integrated market, a price of any product in regions depends on its demand in a national market rather than in a regional one. Applying the econometric model based on this theoretical statement, the paper assesses to degree the markets of some food products are integrated. The...