The impact of information on land development: a dynamic and stochastic analysis
Article Abstract:
K.J. Arrow, A.C. Fisher and C. Henry elaborated on B.A. Weisbrod's notion of option value through an AFH notion of option value, or quasi-option value. Quasi-option value holds that in cases of indivisible and irreversible development, a land developer who ignores the possibility of gathering new information about the outcome of this development is likely to underestimate the benefits of preservation and invariably favor development. However, in measuring the right time for development, a developer should compare the revenue obtainable from developing at some time with the expected revenue to be obtained by waiting for new information beyond time.
Publication Name: Journal of Environmental Management
Subject: Environmental issues
ISSN: 0301-4797
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
Sequencing batch reactor biofilm system for treatment of milk industry wastewater
Article Abstract:
A sequencing batch reactor biofilm (MSBR) system was modified from the conventional sequencing batch reactor (SBR) system by installing 2.7 m(sub 2) surface area of plastic media on the bottom of the reactor to increase the system efficiency and bio-sludge quality by increasing the bio-sludge in the system. The sludge volume index (SVI) of suspended bio-sludge in the MSBR system was only 44 plus minus 3.4 ml/g under an organic loading of 680 g BOD(sub 5/m)(super 3) d.
Publication Name: Journal of Environmental Management
Subject: Environmental issues
ISSN: 0301-4797
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
Indivisibility and divisibility in land development over time and under uncertainty
Article Abstract:
Two scenarios are analyzed in which decision to develop land is made in a multi-period and stochastic framework. Specifically, the ways in which the divisible land development decision depends on the extent of a landowner's landholding and on the number of development opportunities awaiting this landowner.
Publication Name: Journal of Environmental Management
Subject: Environmental issues
ISSN: 0301-4797
Year: 2005
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Ecosystem-scale impacts of deforestation and land use in a humid tropical region of Mexico. Belowground consequences of vegetation change and their treatment in models
- Abstracts: Importance of correlations among matrix entries in stochastic models in relation to number of transition matrices
- Abstracts: Recent studies improve understanding of population dynamics across species ranges. The influence of genetic factors and population dynamics on the mating system of the hermaphroditic freshwater snail Biomphalaria pfeifferi
- Abstracts: Energy input and species diversity patterns in microcosms. Consumer diversity mediates invasion dynamics at multiple trophic levels
- Abstracts: The contribution from shipping emissions to air quality and acid deposition in Europe. Environmental benefits of NOx control in northwestern Europe