Files
Download Full Text (1.1 MB)
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
Rights and Access Note
Rights assessment remains the responsibility of the researcher. No known restrictions on publication.
Volume
161
Publication Date
5-1-1996
Publisher
Maine Agricultural and Forest Experiment Station
City
Orono
Keywords
forestry
Disciplines
Agricultural and Resource Economics
Recommended Citation
Plantinga, A.J. 1996. Forestry investments and option values: Theory and estimation. Maine Agricultural and Forest Experiment Station Technical Bulletin 161