Irreversibility and uncertainty in species valuation

Irreversibility and uncertainty in species valuation

This paper incorporates an option value into deforestation policy analysis. Similar to an option value in finance, the option value here reflects the advantage to delaying irreversible species extinction until more information about the uncertain value of species is known. The return from species is...

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Bibliographic Details
Main Author: Brooks, Eileen L.
Other Authors: Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research.
Format: Working Paper
Published: MIT Center for Energy and Environmental Policy Research 2009
Online Access:http://hdl.handle.net/1721.1/50220

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