caa a22 4500 445316330 CHVBK 20180317142648.0 cr unu---uuuuu 170323e20111001xx s 000 0 eng 10.1007/s11146-010-9277-9 doi (NATIONALLICENCE)springer-10.1007/s11146-010-9277-9 Development Value: A Real Options Approach Using Empirical Data [Elektronische Daten] [Robert Grovenstein, James Kau, Henry Munneke] This paper combines an empirical methodology and a theoretical options approach to determine the real option values of development and delay for vacant parcels of land in the City of Chicago. A theoretical options model provides an option price that incorporates future uncertainty. The data allow for disaggregation down to specific land use categories and results show option values vary across zoning categories and within zoning categories for specific land uses. Springer Science+Business Media, LLC, 2010 Real options nationallicence Land value nationallicence Development nationallicence Grovenstein Robert Fairfield Residential LLC, 75050, Grand Prairie, TX, USA aut Kau James University of Georgia, Terry College of Business, 30602-6255, Athens, GA, USA aut Munneke Henry University of Georgia, Terry College of Business, 30602-6255, Athens, GA, USA aut The Journal of Real Estate Finance and Economics Springer US; http://www.springer-ny.com 43/3(2011-10-01), 321-335 0895-5638 43:3<321 2011 43 11146 https://doi.org/10.1007/s11146-010-9277-9 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11146-010-9277-9 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Grovenstein Robert Fairfield Residential LLC, 75050, Grand Prairie, TX, USA aut NATIONALLICENCE 700 1- Kau James University of Georgia, Terry College of Business, 30602-6255, Athens, GA, USA aut NATIONALLICENCE 700 1- Munneke Henry University of Georgia, Terry College of Business, 30602-6255, Athens, GA, USA aut NATIONALLICENCE 773 0- The Journal of Real Estate Finance and Economics Springer US; http://www.springer-ny.com 43/3(2011-10-01), 321-335 0895-5638 43:3<321 2011 43 11146 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer