PROPERTY RIGHTS, UNCERTAINTY AND OPTION VALUE

The transition from an open access to a private property rights management regime requires valuation mechanisms that respond to new incentives. The analysis relies on the NPV model, the Arrow Fisher (1972) result and the Black-Scholes option pricing model to describe the necessary elements of resource investment under this transition.


Issue Date:
1998
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/20872
Total Pages:
12
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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