Real options analysis for land use management: Methods, application, and implications for policy.

@article{Regan2015RealOA,
  title={Real options analysis for land use management: Methods, application, and implications for policy.},
  author={Courtney M Regan and Brett A. Bryan and Jeffery D. Connor and Wayne S. Meyer and Bertram Ostendorf and Zili Zhu and Chenming Bao},
  journal={Journal of environmental management},
  year={2015},
  volume={161},
  pages={144-152}
}
Discounted cash flow analysis, including net present value is an established way to value land use and management investments which accounts for the time-value of money. However, it provides a static view and assumes passive commitment to an investment strategy when real world land use and management investment decisions are characterised by uncertainty, irreversibility, change, and adaptation. Real options analysis has been proposed as a better valuation method under uncertainty and where the… CONTINUE READING

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