Arrow-Fisher-Hanemann-Henry and Dixit-Pindyck option values under strategic interactions

• المؤلفون الرئيسيون: FUJII, Tomoki, ISHIKAWA, Ryuichiro
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 2011
• الموضوعات: Irreversibility; Quasi-option values; Biodiversity; Uncertainty; Value of Information; Behavioral Economics; Strategic Management Policy
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/soe_research/1314; https://ink.library.smu.edu.sg/context/soe_research/article/2313/viewcontent/afhh_vs_dp_42_.pdf

We extend the Arrow-Fisher-Hanemann-Henry (AFHH) and Dixit-Pindyck (DP) option values to game situations. By reinterpreting the AFHH option value as a change in the surplus from conservation because of the prospect of future information, we deal with the conceptual difficulty associated with the AFHH...