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来源类型 | Article |
规范类型 | 其他 |
DOI | 10.1016/0095-0696(81)90007-3 |
A note on option value and the expected value of consumer's surplus. | |
Anderson Jr RJ | |
发表日期 | 1980 |
出处 | Journal of Environmental Economics and Management 8 (2): 187-191 |
出版年 | 1980 |
语种 | 英语 |
摘要 | In roughly contemporaneous papers, Cicchetti and Freeman (Quart. J. Econ., 1971) and Schmalensee (Ame. Econ. Rev., 1972) reached apparently conflicting conclusions about the sign taken by option value. Cicchetti and Freeman conclude that option value i salways non-negative. Schmalensee concludes that option value may be either positive or negative, depending upon the circumstances. This paper reconciles these seemingly contradictory conclusions. It is demonstrated that Cicchetti and Freeman's unambiguous conclusions concerning the sign of option value are the result of two special strong assumptions not imposed by Schmalensee. |
主题 | Resources and Environment Area (REN) |
URL | http://pure.iiasa.ac.at/id/eprint/1209/ |
来源智库 | International Institute for Applied Systems Analysis (Austria) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/126726 |
推荐引用方式 GB/T 7714 | Anderson Jr RJ. A note on option value and the expected value of consumer's surplus.. 1980. |
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