How does real option value compare with Faustmann value in the context of the New Zealand Emissions Trading Scheme?
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DOI: 10.1016/j.forpol.2013.02.001
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References listed on IDEAS
- Graeme Guthrie & Dinesh Kumareswaran, 2009. "Carbon Subsidies, Taxes and Optimal Forest Management," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 43(2), pages 275-293, June.
- Manley, Bruce & Maclaren, Piers, 2012. "Potential impact of carbon trading on forest management in New Zealand," Forest Policy and Economics, Elsevier, vol. 24(C), pages 35-40.
- Manley, Bruce & Niquidet, Kurt, 2010. "What is the relevance of option pricing for forest valuation in New Zealand?," Forest Policy and Economics, Elsevier, vol. 12(4), pages 299-307, April.
- Chladna, Zuzana, 2007. "Determination of optimal rotation period under stochastic wood and carbon prices," Forest Policy and Economics, Elsevier, vol. 9(8), pages 1031-1045, May.
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Cited by:
- Manley, Bruce & Niquidet, Kurt, 2017. "How does real option value compare with Faustmann value when log prices follow fractional Brownian motion?," Forest Policy and Economics, Elsevier, vol. 85(P1), pages 76-84.
- Arthur Grimes & Sandra Cortés Acosta, 2021. "Permanent forest investment in a climate of uncertainty," Working Papers 21_04, Motu Economic and Public Policy Research.
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Keywords
Forest valuation; Carbon trading; Stochastic prices; Option value; Faustmann;All these keywords.
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