Technical Bulletins
 

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Description

This bulletin considers option values related to a principal problem for forestry investors, the timing of harvests. The purpose is to present a general theory of the rotation problem under uncertainty and irreversibility and provide a methodology for empirically estimating option values. Modifications of the framework for analyzing options values related to other aspects of forestry investments are also discussed.

Document Type

Article

ISSN

1070-1524

Volume

161

Publication Date

5-1-1996

Publisher

Maine Agricultural and Forest Experiment Station

City

Orono

Keywords

forestry

Disciplines

Agricultural and Resource Economics