Browsing by Subject "Privatization Econometric models."

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    Privatization of forests : a real options approach
    (2005) Siyahhan, Baran
    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.