A real options approach to the valuation of a forestry investment.

DOI10.1006/jeem.2001.1209zbMath1037.91032OpenAlexW1965865856MaRDI QIDQ1864835

Margaret Insley

Publication date: 23 March 2003

Published in: Journal of Environmental Economics and Management (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1006/jeem.2001.1209

zbMATH Keywords

dynamic programmingBrownian motionreal optionsharvestlumber prices

Mathematics Subject Classification ID

Microeconomic theory (price theory and economic markets) (91B24) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Corporate finance (dividends, real options, etc.) (91G50)

Related Items (12)

Fishery management in a regime switching environment: utility theory approach ⋮ The stochastic mitra-wan forestry model: risk neutral and risk averse cases ⋮ Asset retirement with infinitely repeated alternative replacements: harvest age and species choice in forestry ⋮ Leveraged investments and agency conflicts when cash flows are mean reverting ⋮ On two diffusion neuronal models with multiplicative noise: The mean first-passage time properties ⋮ Investment flexibility as a barrier to entry ⋮ Mitigating global warming: a real options approach ⋮ Wicksellian theory of forest rotation under interest rate variability ⋮ The spillover effects of biofuel policy on participation in the conservation reserve program ⋮ OPTIMAL HARVESTING OF FOREST AGE CLASSES UNDER PRICE UNCERTAINTY AND RISK AVERSION ⋮ Optimal harvesting under resource stock and price uncertainty ⋮ Qualitative properties of different numerical methods for the inhomogeneous geometric Brownian motion

This page was built for publication: A real options approach to the valuation of a forestry investment.