Savastano, Sara; Scandizzo, Pasquale Lucio - Centro di Studi Internazionali Sull'Economia e la … - 2010
The paper illustrates a theoretical model of real option value applied to the problem of land development. Making use of the 1998-2001 Kyrgyz Household Budget Survey, we show that when the hypothesis of decreasing return to scale holds, the relation between the threshold value of revenue per...