Information, Option, and Existence Value

Jon M. Conrad

No 183703, Staff Papers from Cornell University, Department of Applied Economics and Management

Abstract: An intergenerational model of resource development is constructed to examine the concepts of option and existence value. These concepts are seen to relate to a more fundamental concept: the expected value of perfect information. The analysis would suggest that when sequencing irreversible resource developments both uncertainty and the expected value of information should be considered.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Pages: 14
Date: 1979-06
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Persistent link: https://EconPapers.repec.org/RePEc:ags:cudasp:183703

DOI: 10.22004/ag.econ.183703

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