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      • Dept. of Management - Master's degree
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      • Bilkent Theses
      • Theses - Department of Management
      • Dept. of Management - Master's degree
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      Privatization of forests : a real options approach

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      Author
      Siyahhan, Baran
      Advisor
      Caner, Selçuk
      Date
      2005
      Publisher
      Bilkent University
      Language
      English
      Type
      Thesis
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      Abstract
      This thesis analyzes the privatization of forests. It suggests that privatization can be regarded as a real option. The thesis develops a model that determines the optimal conditions for privatization of forests. Working in a real option framework, I show that delaying privatization could have a positive value attached to it and obtain the critical value at which the government privatizes the forest. I also show that the fundamental variables in the economy such as the interest rate and uncertainty can affect the decision to privatize.
      Keywords
      Real Options
      Amenity
      Economic Rent
      Privatization
      Permalink
      http://hdl.handle.net/11693/29610
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      • Dept. of Management - Master's degree 295
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