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| Rolfe, John; Windle, Jill. |
| Option values may be an important component of non-use values when development options for environmental assets are considered. These are values that the community might hold for maintaining options to make future choices about allocating resources. However, option values are very difficult to define, at both theoretical and practical levels, and there has been a retreat over the past decade to the more inclusive concept of option prices. In the present paper, estimates of option values are reported for retaining unallocated water in reserve rather than using it for current development. The use of option values rather than option prices is justified on the basis that the focus is on nonuse values, and demand and supply uncertainties have been minimised.... |
| Tipo: Article |
Palavras-chave: Choice modelling; Environmental assets; Supply response; Resource /Energy Economics and Policy. |
| Ano: 2005 |
URL: http://purl.umn.edu/118439 |
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