The role of spatial scale in the timing of uncertain environmental policy

DOI10.1016/j.jedc.2011.09.001zbMath1243.91086OpenAlexW1995284786MaRDI QIDQ433647

Charles Sims, David Finnoff

Publication date: 5 July 2012

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jedc.2011.09.001

zbMATH Keywords

Brownian motionreal optionsirreversibilityreflecting barrierspatial boundary

Mathematics Subject Classification ID

Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76)

Uses Software

• CompEcon

Cites Work

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• Harvesting and recovery decisions under uncertainty
• Optimal harvesting of stochastic spatial resources
• Harvesting a renewable resource under uncertainty
• The stochastic rotation problem: A generalization of Faustmann's formula to stochastic forest growth
• A simplified treatment of the theory of optimal regulation of Brownian motion
• Super contact and related optimality conditions
• Bioeconomics of spatial exploitation in a patchy environment
• Optimal timing problems in environmental economics.
• Species preservation and biodiversity value: a real options approach
• ENVIRONMENTAL UNCERTAINTY AND THE TIMING OF ENVIRONMENTAL POLICY