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Uncertainty and Real Options. Investment and Development of Fishing Resources (II)
(2000-01)
[EN] The irreversibility of the investment expenditures in a fishery and the high degree of uncertainty attaching to the price of the fishing resources make the evaluation of investment opportunity in a fishery particularly ...
Uncertainty and Real Options. Investment and Development of Fishing Resources (I)
(2000-01)
[EN] The valuation of development opportunity of a fishery is made particularly difficult by the high degree of uncertainty attaching to the price of the fishing resource. The net-present-value and other discounted cash-flows ...
Environmental Standards, Wage Incomes and the Location of Polluting Firms
(2000-03)
The purpose of this paper is to study how the choice of environmental standards by governments is affected by the existence of wage incomes when firms' location is endogenous. In developed countries labor is unionized, ...