PROPERTY RIGHTS, UNCERTAINTY AND OPTION VALUE
Resource information
Date of publication
Décembre 1998
Resource Language
ISBN / Resource ID
AGRIS:US2012211507
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.
