The Pricing of Land Options

Robert L. Brown and Dominique Achour
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Robert L. Brown: Faculty of Economics and Politics, Monash University, Melbourne, Australia
Dominique Achour: Faculté des Sciences de l'Administration, Université Laval, Québec. Canada

Urban Studies, 1984, vol. 21, issue 3, 317-323

Abstract: Valuation principles which have been found useful in the study of stock options are applied to the pricing of options to purchase real property ('land options'). There is a close similarity between fixed land options and call options on common stock. This similarity is used to saggest ways in which fixed land options might be valued. More complex land options (step-up, full credit and renewable) are also analyzed.

Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:sae:urbstu:v:21:y:1984:i:3:p:317-323

DOI: 10.1080/00420988420080571

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