농업경제연구

Korean Agricultural Economics Association

제목 실물옵션을 이용한 관수시설 투자의 경제성 분석
저자 서상택
발행정보 47권 1호 (2006년 3월) 페이지 31~50
초록 A real options approach is used to the investment analysis of irrigation systems in cotton farming in the Texas High Plains. Among the alternative irrigation systems are low energy precision application system, surface drip irrigation system, and variable rate irrigation system. Results show that real options requires 4.8 times higher investment threshold than net present value approach. Among alternatives only low energy precision application system is proved to be profitable.
논문파일 농업경제연구-2006(47권제1호)-03.pdf