Options, uncertainty and sunk costs:: an empirical analysis of land use change

By T. Schatzki. 2003

187 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance, Global and Planetary Change

View Paper: https://www.semanticscholar.org/paper/4b230be1d98f389cdbb27590c62e8ac996241673

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

1. D. Lewis
2. Stephen Polasky
3. Elena G. Irwin
4. Andrew J. Plantinga
5. E. Nelson
6. N. Bockstael
7. Cynthia J. Nickerson
8. Charles A. Towe

In Finance

1. Feng Song
2. N. Bockstael
3. Elena G. Irwin
4. Andrew J. Plantinga
5. Jinhuan Zhao
6. S. Swinton
7. D. Lewis

In Global and Planetary Change

1. D. Lewis
2. Stephen Polasky
3. E. Nelson
4. Elena G. Irwin
5. Andrew J. Plantinga
6. B. Barham
7. Brian K. Robinson
8. N. Bockstael

Citations in the corpus

• What Drives Land-Use Change in the United States? A National Analysis of Landowner Decisions (2007, unknown): “We model urban land use as a unique nest, due to its greater degree of irreversibility, and because land quality, as measured by the LCC, is likely to be a much less important determinant of urban development returns.”
• An Empirical Examination of the Timing of Land Conversions in the Presence of Farmland Preservation Programs (2008, background): “One notable exception is Schatzki (2003) who finds that sunk costs and uncertainty in returns lowers the likelihood of land conversion from agriculture to forest in Georgia.”
• Switching to Perennial Energy Crops Under Uncertainty and Costly Reversibility (2011, result): “This prediction is opposite to that of standard risk aversion arguments, and has been used by Schatzki (2003) to test real option versus risk aversion assumptions. return because it has both a smaller reversion speed parameter and a smaller absolute difference between the current return and the…”
• The efficiency of voluntary incentive policies for preventing biodiversity loss (2009, background): “It should be noted that we do not model uncertainty over future net revenues or the potential irreversibility of land-use decisions (Schatzki, 2003).”
• Are There Spatial Spillovers in the Adoption of Clean Technology? The Case of Organic Dairy Farming (2011, background): “Since uncertain commodity prices comprise a large component of option values in land-use change models (Schatzki 2003), and”
• Land-Use Change and Carbon Sinks: Econometric Estimation of the Carbon Sequestration Supply Function (2005, unknown): “Robert N. Stavins”
• Land use externalities, open space preservation, and urban sprawl (2004, background): “Some recent work in land use change suggests that this value is significant in influencing parcel conversions between agricultural and forest land uses (Schatzki, 2003).”