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1 March 2009 A Reply to “Option Value of Harvesting” Revisited (The Comment)
ERIC A.L. LI
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Abstract

Li's results (1998) are correct and robust. The Comment offers an interesting perspective from real-options theory, albeit misguided–from a resourceeconomics point of view. In particular, the lack of sensitivity in the optimal harvest trigger to biomass uncertainty is questionable. This reply begins with a general overview of resource-economic principles and the role of real options in them. A specific reply to each point raised in The Comment will then be addressed.

ERIC A.L. LI "A Reply to “Option Value of Harvesting” Revisited (The Comment)," Marine Resource Economics 24(1), 83-87, (1 March 2009). https://doi.org/10.5950/0738-1360-24.1.83
Published: 1 March 2009
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