메뉴 건너뛰기




Volumn 45, Issue 2, 1999, Pages 171-178

Afforestation as a real option: Some policy implications

Author keywords

Investment timing; Policy expectations; Subsidies; Uncertainty

Indexed keywords


EID: 0032901804     PISSN: 0015749X     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article
Times cited : (50)

References (23)
  • 1
    • 0031409191 scopus 로고    scopus 로고
    • The reservation price approach and efficient markets
    • ABILDTRUP, J., J. RIIS, AND B.J. THORSEN. 1997. The reservation price approach and efficient markets. J. For. Econ. 3:229-246.
    • (1997) J. For. Econ. , vol.3 , pp. 229-246
    • Abildtrup, J.1    Riis, J.2    Thorsen, B.J.3
  • 3
    • 0021626301 scopus 로고
    • Government support of nonindustrial production: The case of private forests
    • BOYD, R. 1984. Government support of nonindustrial production: The case of private forests, South. J. Econ. 51:89-107.
    • (1984) South. J. Econ. , vol.51 , pp. 89-107
    • Boyd, R.1
  • 4
    • 0024159867 scopus 로고
    • Timber harvesting with fluctuating prices
    • BRAZEE, R., AND R. MENDELSOHN. 1988. Timber harvesting with fluctuating prices. For. Sci. 34:359-372.
    • (1988) For. Sci. , vol.34 , pp. 359-372
    • Brazee, R.1    Mendelsohn, R.2
  • 5
    • 0001603924 scopus 로고
    • Evaluating natural resource investments
    • BRENNAN, M.J., AND E.S. SCHWARTZ. 1985. Evaluating natural resource investments. J. Bus. 58:135-157.
    • (1985) J. Bus. , vol.58 , pp. 135-157
    • Brennan, M.J.1    Schwartz, E.S.2
  • 6
    • 45349110688 scopus 로고
    • The tree-cutting problem in a stochastic environment. The case of age-dependent growth
    • CLARKE, H.R., AND W.J. REED. 1989. The tree-cutting problem in a stochastic environment. The case of age-dependent growth. J. Econ. Dynam. Contr. 13:569-595.
    • (1989) J. Econ. Dynam. Contr. , vol.13 , pp. 569-595
    • Clarke, H.R.1    Reed, W.J.2
  • 8
    • 0001087853 scopus 로고
    • Stochastic price models and optimal tree cutting: Results for loblolly pine
    • HAIGHT, R., AND T. HOLMES. 1991. Stochastic price models and optimal tree cutting: results for loblolly pine. Natur. Resour. Model. 5:423-443.
    • (1991) Natur. Resour. Model. , vol.5 , pp. 423-443
    • Haight, R.1    Holmes, T.2
  • 9
    • 0000500321 scopus 로고
    • The economics of exhaustible resources
    • HOTELLING, H. 1931. The economics of exhaustible resources. J. Pol. Econ. 39:137-175.
    • (1931) J. Pol. Econ. , vol.39 , pp. 137-175
    • Hotelling, H.1
  • 10
    • 0029546129 scopus 로고
    • The behavior of timber rents inSweden, 1909-1990
    • HULTKRANTZ, L. 1995.The behavior of timber rents inSweden, 1909-1990. J. For. Econ. 1:165-180.
    • (1995) J. For. Econ. , vol.1 , pp. 165-180
    • Hultkrantz, L.1
  • 13
    • 0028172547 scopus 로고
    • Implementing forest policy in the lowlands of Britain
    • MATTHEWS, J.D. 1994. Implementing forest policy in the lowlands of Britain. Forestry 67:1-12.
    • (1994) Forestry , vol.67 , pp. 1-12
    • Matthews, J.D.1
  • 14
    • 84974221195 scopus 로고
    • The valuation of forestry resources under stochastic prices and inventories
    • MORCK, R., E. SCHWARTZ, AND D. STANOELAND. 1989. The valuation of forestry resources under stochastic prices and inventories. J. Fin. Quant. Anal. 24:473-487.
    • (1989) J. Fin. Quant. Anal. , vol.24 , pp. 473-487
    • Morck, R.1    Schwartz, E.2    Stanoeland, D.3
  • 15
    • 0022205179 scopus 로고
    • The optimal forest rotation with evolving prices
    • NEWMAN, D.H., C.B. GILBERT, AND W.F. HYDE. 1985. The optimal forest rotation with evolving prices. Land Econ. 61:347-353.
    • (1985) Land Econ. , vol.61 , pp. 347-353
    • Newman, D.H.1    Gilbert, C.B.2    Hyde, W.F.3
  • 16
    • 0029481616 scopus 로고
    • A note on the tree-cutting problem in a stochastic environment
    • NEWMAN, D.H., AND R. YIN. 1995. A note on the tree-cutting problem in a stochastic environment. J. For. Econ. 1:181-190.
    • (1995) J. For. Econ. , vol.1 , pp. 181-190
    • Newman, D.H.1    Yin, R.2
  • 17
    • 0000339506 scopus 로고
    • A stochastic model for the growth period decision in forestry
    • NORSTRØM, C.J. 1975. A stochastic model for the growth period decision in forestry. Swed. J. Econ. 77:329-337.
    • (1975) Swed. J. Econ. , vol.77 , pp. 329-337
    • NorstrØm, C.J.1
  • 18
    • 0032073604 scopus 로고    scopus 로고
    • Optimal harvesting strategies with stationary and non-stationary prices: An option value analysis
    • PLANTINGA, A.J. 1998. Optimal harvesting strategies with stationary and non-stationary prices: An option value analysis. For. Sci. 44: 192-202.
    • (1998) For. Sci. , vol.44 , pp. 192-202
    • Plantinga, A.J.1
  • 19
    • 0021442512 scopus 로고
    • The effects of risk of fire on the optimal rotation of a forest
    • REED, W.J. 1984. The effects of risk of fire on the optimal rotation of a forest, J. Environ. Econ. Man. 11:350-363.
    • (1984) J. Environ. Econ. Man. , vol.11 , pp. 350-363
    • Reed, W.J.1
  • 20
    • 0029789912 scopus 로고    scopus 로고
    • Predicting the present value distribution of a forest plantation investment
    • REED, W.J., AND R. HAIGHT. 1996. Predicting the present value distribution of a forest plantation investment. For. Sci. 42: 378-388.
    • (1996) For. Sci. , vol.42 , pp. 378-388
    • Reed, W.J.1    Haight, R.2
  • 21
    • 0023513486 scopus 로고
    • Determinants of reforestation behavior among southern landowners
    • ROYER, J.P. 1987. Determinants of reforestation behavior among southern landowners. For. Sci. 33:654-667.
    • (1987) For. Sci. , vol.33 , pp. 654-667
    • Royer, J.P.1
  • 22
    • 0002677397 scopus 로고
    • Rational theory of warrant pricing
    • SAMUELSON, P.A. 1965.Rational theory of warrant pricing. Ind. Man. Rev. 6(Spring):41-50.
    • (1965) Ind. Man. Rev. , vol.6 , Issue.SPRING , pp. 41-50
    • Samuelson, P.A.1
  • 23
    • 0000963630 scopus 로고
    • Optimal forest rotation when prices follow a diffusion process
    • THOMSON, T.A. 1992. Optimal forest rotation when prices follow a diffusion process. Land Econ. 68:329-342.
    • (1992) Land Econ. , vol.68 , pp. 329-342
    • Thomson, T.A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.