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On Reconciling Different Concepts of Option Value

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  • Hanemann, W. Michael

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  • Hanemann, W. Michael, 1984. "On Reconciling Different Concepts of Option Value," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt81w7290x, Department of Agricultural & Resource Economics, UC Berkeley.
    • Handle: RePEc:cdl:agrebk:qt81w7290x
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    References listed on IDEAS

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    1. Dreze, Jacques H. & Modigliani, Franco, 1972. "Consumption decisions under uncertainty," Journal of Economic Theory, Elsevier, vol. 5(3), pages 308-335, December.
    2. Claude Henry, 1974. "Option Values in the Economics of Irreplaceable Assets," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 41(5), pages 89-104.
    3. Karni, Edi, 1983. "Risk Aversion for State-Dependent Utility Functions: Measurement and Applications," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 24(3), pages 637-647, October.
    4. Ulph, Alistair, 1982. "The role of ex ante and ex post decisions in the valuation of life," Journal of Public Economics, Elsevier, vol. 18(2), pages 265-276, July.
    5. Ben S. Bernanke, 1983. "Irreversibility, Uncertainty, and Cyclical Investment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 98(1), pages 85-106.
    6. Richard C. Bishop, 1982. "Option Value: An Exposition and Extension," Land Economics, University of Wisconsin Press, vol. 58(1), pages 1-15.
    7. Anderson, Robert Jr., 1981. "A note on option value and the expected value of consumer's surplus," Journal of Environmental Economics and Management, Elsevier, vol. 8(2), pages 187-191, June.
    8. Schmalensee, Richard, 1972. "Option Demand and Consumer's Surplus: Valuing Price Changes under Uncertainty," American Economic Review, American Economic Association, vol. 62(5), pages 813-824, December.
    9. Hartman, Richard & Plummer, Mark L., 1987. "Option value under income and price uncertainty," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 212-225, September.
    10. Graham, Daniel A, 1981. "Cost-Benefit Analysis under Uncertainty," American Economic Review, American Economic Association, vol. 71(4), pages 715-725, September.
    11. repec:bla:econom:v:48:y:1981:i:191:p:235-50 is not listed on IDEAS
    12. Miller, Jon R & Lad, Frank, 1984. "Flexibility, learning, and irreversibility in environmental decisions: A bayesian approach," Journal of Environmental Economics and Management, Elsevier, vol. 11(2), pages 161-172, June.
    13. Hanemann, W. Michael, 1989. "Information and the concept of option value," Journal of Environmental Economics and Management, Elsevier, vol. 16(1), pages 23-37, January.
    14. Kenneth J. Arrow & Anthony C. Fisher, 1974. "Environmental Preservation, Uncertainty, and Irreversibility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 88(2), pages 312-319.
    15. David S. Brookshire & Larry S. Eubanks & Alan Randall, 1983. "Estimating Option Prices and Existence Values for Wildlife Resources," Land Economics, University of Wisconsin Press, vol. 59(1), pages 1-15.
    16. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63(4), pages 309-309.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Giuseppe Attanasi & Aldo Montesano, 2010. "Testing Value vs Waiting Value in Environmental Decisions under Uncertainty," LERNA Working Papers 10.01.307, LERNA, University of Toulouse.

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