@article{Hartwick:275197,
      recid = {275197},
      author = {Hartwick, John M.},
      title = {Option Pricing by the Nonrenewable Resource Extracting  Firm Facing Output Price Uncertainty},
      address = {1985},
      number = {2118-2018-4609},
      series = {IER No. 590},
      pages = {24},
      year = {1985},
      abstract = {We establish a general preference for price uncertainty by  the pricetaking, risk neutral, nonrenewable resource  extracting firm with orthodox convex extraction costs.  Option prices for delivery of a ton at a particular date in  the future exceed the expected dollar return from the  purchase of the option. The dependence of option price on  initial stock size takes a simple form. Other comparative  static results are reported.},
      url = {http://ageconsearch.umn.edu/record/275197},
      doi = {https://doi.org/10.22004/ag.econ.275197},
}