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Using real options theory to analyze the impacts of urban development on farm real estate markets



Using real options theory to analyze the impacts of urban development on farm real estate markets



Turkish Journal of Agriculture and Forestry 29(5): 409-417



This paper assesses the real option values of farmland using data from Ohio, USA. The option value of delaying the sale of a farm property was measured using an emerging, relatively new theory, namely, the theory of real options pricing. As opposed to standard corporate finance theory, this new theory incorporates both the uncertainty about the future net benefits of a selling decision and the irreversibility of this action taken.

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Accession: 004379456

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