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Title: 供給側オプション価格とその計測法
Other Titles: Supply-Side Option Price and Its Measurement
Authors: 浅野, 耕太  kyouindb  KAKEN_id
Author's alias: Asano, Kota
Issue Date: 25-Dec-1996
Publisher: 京都大学大学院農学研究科生物資源経済学専攻
Journal title: 京都大学生物資源経済研究
Volume: 2
Start page: 97
End page: 106
Abstract: The range of food, environmental, and agricultural policy problems includes many important issues where uncertainty plays central role. In this paper we investigate a theoretical framework for evaluating welfare changes in a world with uncertainty. Briefly reviewing the development of option value and option price to give the reader a feeling for the evolution of thinking that has occurred, we investigate two theoretical properties of the supply-side option value and price, which are exact welfare measures under supply uncertainty. One property is the sign-preserving property of supplyside option price to the change of expected utility. The other property is the determinant property of the sign of supply-side option value. In the course of showing the second property we can deal without very restrictive and unreasonable assumptions. Its measurement are also explained, focusing on the use of the hedonic technique. The paper concludes with a discussion of promising applications in natural resource economics and food and agricultural policy analysis.
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