Construct · 1 fields · 1 citations

option value: a standalone construct

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Environmental economics

value people place on keeping the possibility of using a resource in the future, even if they are unsure they will use it.

In environmental economics, option value refers to value people place on keeping the possibility of using a resource in the future, even if they are unsure they will use it. This meaning comes from Weisbrod (1964) in The Quarterly Journal of Economics.[1]

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Nearby constructs

delta3 fields · 4 citationsjingle · one word, three constructs future3 fields · 6 citationsjingle · one word, three constructs option value of college enrollment1 fields · 1 citationsanchor · a standalone construct

References

Weisbrod, B. A. (1964). Collective-Consumption Services of Individual-Consumption Goods. The Quarterly Journal of Economics, 78(3), 471. https://doi.org/10.2307/1879478

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