Siyahhan, Baran2016-07-012016-07-012005http://hdl.handle.net/11693/29610Cataloged from PDF version of article.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.viii, 57 leavesEnglishinfo:eu-repo/semantics/openAccessReal OptionsAmenityEconomic RentPrivatizationHD3850 .S59 2005Privatization Econometric models.ThesisBILKUTUPB087392