13010700 Abandonment options.(5: Citations)(Bibliography)(Brief article)

Foundations and Trends in Finance, September, 2005 by Lim, Terence; Lo, Andrew W.; Merton, Robert C.; Scholes, Myron S.

H. Clarke and W. Reed, 1990, "Oil-Well Valuation and Abandonment with Price and Extraction Rate Uncertainty", Resources and Energy, 12:361-382

C. Hamlett and C. P. Baumel, 1990, "Rural Road Abandonment: Policy Criteria and Empirical Analysis", American Journal of Agricultural Economics, 72:114-120

R. McDonald and D. Siegel, 1985, "Investment and the Valuation of Firms When There Is an Option to Shut Down", International Economic Review, 26:331-349

M. Schary, 1991, "The Probability of Exit", Rand Journal of Economics, 22:339-353

Terence Lim (1), Andrew W. Lo (2), Robert C. Merton (3) and Myron S. Scholes (4)

(1) Goldman Sachs Asset Management, 32 Old Slip, New York, NY 10005, alo@mit.edu

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