IDEAS home Printed from https://ideas.repec.org/r/cup/jfinqa/v24y1989i04p473-487_01.html
   My bibliography  Save this item

The Valuation of Forestry Resources under Stochastic Prices and Inventories

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as


Cited by:

  1. Ben Abdallah, Skander & Lasserre, Pierre, 2016. "Asset retirement with infinitely repeated alternative replacements: Harvest age and species choice in forestry," Journal of Economic Dynamics and Control, Elsevier, vol. 70(C), pages 144-164.
  2. Matthew Clayton & David Yermack, 1999. "Major League Baseball Player Contracts: An Investigation of the Empirical Properties of Real Options," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-051, New York University, Leonard N. Stern School of Business-.
  3. repec:vuw:vuwscr:18975 is not listed on IDEAS
  4. Scandizzo, Pasquale L. & Ventura, Marco, 2010. "Sharing risk through concession contracts," European Journal of Operational Research, Elsevier, vol. 207(1), pages 363-370, November.
  5. Strange, Niels & Jacobsen, Jette Bredahl & Thorsen, Bo Jellesmark, 2019. "Afforestation as a real option with joint production of environmental services," Forest Policy and Economics, Elsevier, vol. 104(C), pages 146-156.
  6. Azzato, Jeffrey & Krawczyk, Jacek B & Sissons, Christopher, 2011. "On loss-avoiding lump-sum pension optimization with contingent targets," Working Paper Series 18552, Victoria University of Wellington, School of Economics and Finance.
  7. Lander, Diane M. & Pinches, George E., 1998. "Challenges to the Practical Implementation of Modeling and Valuing Real Options," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(3, Part 2), pages 537-567.
  8. Alvarez, Luis H. R. & Koskela, Erkki, 2005. "Wicksellian theory of forest rotation under interest rate variability," Journal of Economic Dynamics and Control, Elsevier, vol. 29(3), pages 529-545, March.
  9. Pedro Cosme da Costa Vieira, 2008. "Integrating fire risk into the management of forests," FEP Working Papers 290, Universidade do Porto, Faculdade de Economia do Porto.
  10. Rainer Niemann & Caren Sureth, 2002. "Taxation under Uncertainty – Problems of Dynamic Programming and Contingent Claims Analysis in Real Option Theory," CESifo Working Paper Series 709, CESifo.
  11. Ariste, Ruolz & Lasserre, Pierre, 2001. "La gestion optimale d’une forêt exploitée pour son potentiel de diminution des gaz à effet de serre et son bois," L'Actualité Economique, Société Canadienne de Science Economique, vol. 77(1), pages 27-51, mars.
  12. repec:ehu:biltok:5843 is not listed on IDEAS
  13. Sebastian Maier, 2021. "Re-evaluating natural resource investments under uncertainty: An alternative to limited traditional approaches," Annals of Operations Research, Springer, vol. 299(1), pages 907-937, April.
  14. Guthrie, Graeme & Kumareswaran, Dinesh, 2003. "Carbon Subsidies and Optimal Forest Management," Working Paper Series 3879, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  15. Alvarez, Luis H.R. & Koskela, Erkki, 2007. "Optimal harvesting under resource stock and price uncertainty," Journal of Economic Dynamics and Control, Elsevier, vol. 31(7), pages 2461-2485, July.
  16. Edson Gonçalves, 2006. "Prospecção Para Biodiversidade: Uma Abordagem Via Opções Reais," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 112, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
  17. Gjolberg, Ole & Guttormsen, Atle G., 2002. "Real options in the forest: what if prices are mean-reverting?," Forest Policy and Economics, Elsevier, vol. 4(1), pages 13-20, May.
  18. Navarrete, Eduardo & Bustos, Jaime, 2013. "Faustmann optimal pine stands stochastic rotation problem," Forest Policy and Economics, Elsevier, vol. 30(C), pages 39-45.
  19. Oliva, I. & Ventura, M., 2024. "Who can benefit from multi-license oil concessionaires valuation?," Energy Economics, Elsevier, vol. 135(C).
  20. Rajendra Prasad Khajuria & Shashi Kant & Susanna Laaksonen-Craig, 2009. "Valuation of Timber Harvesting Options Using a Contingent Claims Approach," Land Economics, University of Wisconsin Press, vol. 85(4), pages 655-674.
  21. Galay, Gregory, 2018. "The impact of spatial price differences on oil sands investments," Energy Economics, Elsevier, vol. 69(C), pages 170-184.
  22. Chen, Shan & Insley, Margaret, 2012. "Regime switching in stochastic models of commodity prices: An application to an optimal tree harvesting problem," Journal of Economic Dynamics and Control, Elsevier, vol. 36(2), pages 201-219.
  23. Navarrete, Eduardo, 2012. "Modeling optimal pine stands harvest under stochastic wood stock and price in Chile," Forest Policy and Economics, Elsevier, vol. 15(C), pages 54-59.
  24. Azzato, Jeffrey & Krawczyk, Jacek B & Sissons, Christopher, 2011. "On loss-avoiding lump-sum pension optimization with contingent targets," Working Paper Series 1532, Victoria University of Wellington, School of Economics and Finance.
  25. Hildebrandt, Patrick & Knoke, Thomas, 2011. "Investment decisions under uncertainty--A methodological review on forest science studies," Forest Policy and Economics, Elsevier, vol. 13(1), pages 1-15, January.
  26. 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.
  27. Sloggy, Matthew R. & Kling, David M. & Plantinga, Andrew J., 2020. "Measure twice, cut once: Optimal inventory and harvest under volume uncertainty and stochastic price dynamics," Journal of Environmental Economics and Management, Elsevier, vol. 103(C).
  28. Arantza Murillas‐Maza & Jorge Virto & María Carmen Gallastegui & Pilar González & Javier Fernández‐Macho, 2011. "The value of open ocean ecosystems: A case study for the Spanish exclusive economic zone," Natural Resources Forum, Blackwell Publishing, vol. 35(2), pages 122-133, May.
  29. Buckley, Adrian & Eijgenhuijsen, Hans, 1997. "A conceptual framework for evaluating foreign investments," Serie Research Memoranda 0008, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  30. Anastasios Michailidis & Konstadinos Mattas & Irene Tzouramani & Diamantis Karamouzis, 2009. "A Socioeconomic Valuation of an Irrigation System Project Based on Real Option Analysis Approach," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 23(10), pages 1989-2001, August.
  31. Duku-Kaakyire, Armstrong & Nanang, David M., 2004. "Application of real options theory to forestry investment analysis," Forest Policy and Economics, Elsevier, vol. 6(6), pages 539-552, October.
  32. Insley, Margaret, 2002. "A Real Options Approach to the Valuation of a Forestry Investment," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 471-492, November.
  33. 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.
  34. Rocha, Katia & Moreira, Ajax R.B. & Reis, Eustaquio J. & Carvalho, Leonardo, 2006. "The market value of forest concessions in the Brazilian Amazon: a Real Option approach," Forest Policy and Economics, Elsevier, vol. 8(2), pages 149-160, March.
  35. Guthrie, Graeme & Kumareswaran, Dinesh, 2003. "Carbon Subsidies and Optimal Forest Management," Working Paper Series 18975, Victoria University of Wellington, The New Zealand Institute for the Study of Competition and Regulation.
  36. Creamer, Selmin F. & Genz, Alan & Blatner, Keith A., 2012. "The Effect of Fire Risk on the Critical Harvesting Times for Pacific Northwest Douglas-Fir When Carbon Price Is Stochastic," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 41(3), pages 1-14, December.
  37. Weiping Hua & Tian Qiu & Xin Pan & Chengzhen Wu & Chongyang Zhuang & Shangping Chi & Xidian Jiang & Jianwei Wu, 2023. "The Extension and Improvement of the Forest Land Net Present Value Model and Its Application in the Asset Evaluation of Cunninghamia lanceolata Forest Land," Sustainability, MDPI, vol. 15(11), pages 1-16, June.
  38. Yen-Jung Lee, 2017. "Market reactions to unexpected relative earnings performance," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 24(3-4), pages 339-357, October.
  39. Hamed Ghoddusi, 2010. "Dynamic Investment In Extraction Capacity Of Exhaustible Resources," Scottish Journal of Political Economy, Scottish Economic Society, vol. 57(3), pages 359-373, July.
  40. Newman, D.H., 2002. "Forestry's golden rule and the development of the optimal forest rotation literature," Journal of Forest Economics, Elsevier, vol. 8(1), pages 5-27.
  41. James E. Smith & Kevin F. McCardle, 1998. "Valuing Oil Properties: Integrating Option Pricing and Decision Analysis Approaches," Operations Research, INFORMS, vol. 46(2), pages 198-217, April.
  42. Bruce McGough & Andrew J. Plantinga & Bill Provencher, 2004. "The Dynamic Behavior of Efficient Timber Prices," Land Economics, University of Wisconsin Press, vol. 80(1), pages 95-108.
  43. Insley, M.C. & Wirjanto, T.S., 2010. "Contrasting two approaches in real options valuation: Contingent claims versus dynamic programming," Journal of Forest Economics, Elsevier, vol. 16(2), pages 157-176, April.
  44. Chang, Sun Joseph & Zhang, Fan, 2023. "Active timber management by outsourcing stumpage price uncertainty with the American put option," Forest Policy and Economics, Elsevier, vol. 154(C).
  45. Cerqueti, Roy & Ventura, Marco, 2020. "Optimal concession contracts for oil exploitation," Energy Policy, Elsevier, vol. 147(C).
  46. repec:bla:scotjp:v:57:y:2010:i:s1:p:359-373 is not listed on IDEAS
  47. Guo, Christopher & Costello, Christopher, 2013. "The value of adaption: Climate change and timberland management," Journal of Environmental Economics and Management, Elsevier, vol. 65(3), pages 452-468.
  48. Jose Pizarro & Eduardo S. Schwartz, 2018. "The Valuation of Fisheries Rights: A Real Options Approach," NBER Working Papers 25140, National Bureau of Economic Research, Inc.
  49. Insley, Margaret & Lei, Manle, 2007. "Hedges and Trees: Incorporating Fire Risk into Optimal Decisions in Forestry Using a No-Arbitrage Approach," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 32(3), pages 1-23, December.
  50. Simone Kelly, 2017. "The market premium for the option to close: evidence from Australian gold mining firms," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 57(2), pages 511-531, June.
  51. 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.
  52. 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.
IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.