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The Sign and Size of Option Value

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  • A. Myrick Freeman III

Abstract

We adapt the theoretical state-preference model to value nonmarket public goods under individual uncertainty about use, illustrating with an assessment of willingness-to-pay to prevent acid rain lake damage in the northeast United States. Individual ...

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  • A. Myrick Freeman III, 1983. "The Sign and Size of Option Value," Land Economics, University of Wisconsin Press, vol. 59(4), pages 1-13.
    • Handle: RePEc:uwp:landec:v:59:y:1983:i:4:p:1-13
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    Cited by:

    1. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), pages 1-26, December.
    2. Attanasi, Giuseppe Marco & Montesano, Aldo, 2010. "Testing Value vs Waiting Value in Environmental Decisions under Uncertainty," TSE Working Papers 10-154, Toulouse School of Economics (TSE).
    3. Farmer, Michael C., 2001. "Getting the safe minimum standard to work in the real world: a case study in moral pragmatism," Ecological Economics, Elsevier, vol. 38(2), pages 209-226, August.
    4. Wu, JunJie & Cho, Seong-Hoon, 2007. "The effect of local land use regulations on urban development in the Western United States," Regional Science and Urban Economics, Elsevier, vol. 37(1), pages 69-86, January.

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