Option Value: Theory and Measurement

Anthony C Fisher and Michael Hanemann ()

European Review of Agricultural Economics, 1990, vol. 17, issue 2, 167-80

Abstract: In this paper, the authors provide a theoretical review of option value and its relationship to a more familiar concept in decision analysis, the value of information. They further show how option value might be measured with the aid of a partly realistic and partly hypothetical example. The authors also consider how contingent valuation techniques might be used to estimate option value. Copyright 1990 by Oxford University Press.

Date: 1990
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