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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| Format: | Working Paper |
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MIT Center for Energy and Environmental Policy Research
2009
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| Online Zugang: | http://hdl.handle.net/1721.1/50220 |