학술저널
한국 농지의 옵션가치와 농지가격
Option Values and Price of Agricultural Land in Korea
- 한국농식품정책학회
- 농업경영.정책연구
- 농업경영·정책연구 36권 1호
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2009.03100 - 116 (17 pages)
- 44
This paper analyzes agricultural land option values in Korea. Conventional approach to valuing land such as the present value model tends to misrepresent land price observed since it dismisses the option values for land sales. A real option approach with a random walk of the agricultural revenue is presented to analyze a farmer s land purchase decision. The resultant solution with optimal threshold for land purchases is empirically analyzed. Numerical solution using the Gyeongbuk local data supports the existence of option values prevalent in land prices.
Ⅰ. 서 론
Ⅱ. 모 형
Ⅲ. 실증분석
Ⅳ. 결 론
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