Information, Option, and Existence Value

An intergenerational model of resource development is constructed to examine the concepts of option and existence value. These concepts are seen to relate to a more fundamental concept: the expected value of perfect information. The analysis would suggest that when sequencing irreversible resource developments both uncertainty and the expected value of information should be considered.


Issue Date:
1979-06
Publication Type:
Working or Discussion Paper
PURL Identifier:
http://purl.umn.edu/183703
Total Pages:
14




 Record created 2017-04-01, last modified 2017-11-09

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