Irreversible investment under uncertainty: Conservation easements and the option to develop agricultural land

被引：0
|
作者：
Tegene, A [1 ]
Wiebe, K
Kuhn, B
机构：
[1] Econ Res Serv, Resource Econ Div, USDA, Washington, DC 20250 USA
[2] Econ Res Serv, Food & Rural Econ Div, USDA, Washington, DC 20250 USA
来源：
JOURNAL OF AGRICULTURAL ECONOMICS | 1999年 / 50卷 / 02期
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D O I：
暂无
中图分类号：
F3 [农业经济];
学科分类号：
0202 ; 020205 ; 1203 ;
摘要：
A landowner's decision to convert farmland to urban use is presented as an irreversible investment under uncertainty. This approach improves on conventional approaches to the valuation of conservation easements by incorporating option values. This approach also refines the calculation of compensation potentially due to landowners when use of their land is restricted by government policies to protect the environment.
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页码：203 / 219
页数：17
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