Irreversible Investment Under Uncertainty: Conservation Easements and the Option to Develop Agricultural Land
将农地转为城市用地的决策视为不确定性下的不可逆投资，通过纳入期权价值改进了保护地役权的估值方法，并细化了因政府环保政策限制土地用途时对土地所有者的补偿计算。
A landowner's decision to convert farmland to urban use is presented as an irreversible investment under uncertainty. This approach improves on conventional approaches to the valuation of conservation easements by incorporating option values. This approach also refines the calculation of compensation potentially due to landowners when use of their land is restricted by government policies to protect the environment.