An assessment of the empirical magnitude of option values for environment goods

Catherine Kling

Environmental & Resource Economics, 1993, vol. 3, issue 5, 485 pages

Abstract: This paper provides an empirical assessment of the magnitude of option values relative to expected surplus using a model presented by Larson and Flacco (1992). Option values and option prices are computed for both simulated data sets and actual estimates of recreation demands. Results indicate that option values engendered by price and income uncertainty are generally quite a small percent of expected surplus. Copyright Kluwer Academic Publishers 1993

Keywords: Option value; cost-benefit analysis under uncertainty; recreation demand (search for similar items in EconPapers)
Date: 1993
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Working Paper: Assessment of the Empirical Magnitude of Option Values for Environmental Goods (An) (1993)
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DOI: 10.1007/BF00310249

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