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

• Main Authors: FUJII, Tomoki, ISHIKAWA, Ryuichiro
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2011
• 主題: Irreversibility; Quasi-option values; Biodiversity; Uncertainty; Value of Information; Behavioral Economics; Strategic Management Policy
• 在線閱讀: 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
• 機構: Singapore Management University

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...