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Endogenizing the Reservation Value in Models of Land Development Over Time and Under Uncertainty

Batabyal, Amitrajeet A.; Biswas, Basudeb - 2005

The notion of a reservation value is a key feature of most contemporary dynamic and stochastic models of land development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or preserve land. This notwithstanding, many papers that analyze...

Persistent link: https://www.econbiz.de/10014068670