| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
THE IMPACT OF INFORMATION ON LAND DEVELOPMENT: A DYNAMIC AND STOCHASTIC ANALYSIS
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| Autores: |
Batabyal, Amitrajeet A.
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| Data: |
1998-04-29
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| Ano: |
1995
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| Palavras-chave: |
Development
Dynamic
Information
Uncertainty
Land Economics/Use
D82
Q20
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| Resumo: |
In a two-period model, economists such as K.J. Arrow, A.C. Fisher, and C. Henry, have shown that when development is both indivisible and irreversible, a developer who ignores the possibility of obtaining new information about the outcome of such development will invariably underestimate the benefits of preservation and hence favor development. In this note, I extend the AFH analysis in two directions. I model the land development problem in a dynamic framework, explicitly specifying an information production function. In such a setting, I then ask and answer the question concerning when development should take place. Forthcoming in Journal of Environmental Management
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| Tipo: |
Working or Discussion Paper
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| Idioma: |
Inglês
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| Identificador: |
620
http://purl.umn.edu/28356
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| Editor: |
AgEcon Search
|
| Relação: |
Utah State University>Economics Department>Economics Research Institute, ERI Study Papers
ERI Study Paper 95-13
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| Formato: |
10
application/pdf
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