{"id":"https://openalex.org/W2120618463","doi":null,"title":"Migration and the Option Value of Waiting","display_name":"Migration and the Option Value of Waiting","publication_year":1995,"publication_date":"1995-08-01","ids":{"openalex":"https://openalex.org/W2120618463","mag":"2120618463"},"language":"en","primary_location":{"id":"pmh:http://www.rian.ie/90519/","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2262/64775","pdf_url":"http://hdl.handle.net/2262/64775","source":{"id":"https://openalex.org/S4306400033","display_name":"Arrow@dit (Dublin Institute of Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210144925","host_organization_name":"Technological University Dublin","host_organization_lineage":["https://openalex.org/I4210144925"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Burda, Michael C. 'Migration and the option value of waiting'. - Economic &amp; Social Review, Vol. 27, No. 1, October, 1995, pp. 1-19, Dublin: Economic &amp; Social Research Institute","raw_type":"Journal article"},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"http://hdl.handle.net/2262/64775","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002898310","display_name":"Michael C. Burda","orcid":"https://orcid.org/0000-0003-0576-9559","observed_orcids":["https://orcid.org/0000-0003-0576-9559"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Michael C. Burda","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-0576-9559","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5002898310"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":5.0825,"has_fulltext":true,"cited_by_count":137,"citation_normalized_percentile":{"value":0.95229593,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"27","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10349","display_name":"Migration and Labor Dynamics","score":0.9922000169754028,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10349","display_name":"Migration and Labor Dynamics","score":0.9922000169754028,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11976","display_name":"Capital Investment and Risk Analysis","score":0.002199999988079071,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10216","display_name":"Migration, Refugees, and Integration","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/3312","display_name":"Sociology and Political Science"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/migration","display_name":"migration","score":0.7120000123977661},{"id":"https://openalex.org/keywords/option-value-of-waiting","display_name":"option value of waiting","score":0.9919999837875366},{"id":"https://openalex.org/keywords/real-options","display_name":"real options","score":0.8429999947547913},{"id":"https://openalex.org/keywords/migration-decision-making","display_name":"migration decisions","score":0.7730000019073486},{"id":"https://openalex.org/keywords/fixed-costs","display_name":"fixed costs","score":0.49399998784065247},{"id":"https://openalex.org/keywords/income-risk","display_name":"income risk","score":0.8299999833106995},{"id":"https://openalex.org/keywords/wage-differentials","display_name":"wage differentials","score":0.8600000143051147},{"id":"https://openalex.org/keywords/regional-labor-markets","display_name":"regional labor markets","score":0.753000020980835},{"id":"https://openalex.org/keywords/intertemporal-equilibrium","display_name":"intertemporal equilibrium","score":0.8659999966621399},{"id":"https://openalex.org/keywords/labour-mobility","display_name":"labor mobility","score":0.4740000069141388}],"concepts":[{"id":"https://openalex.org/C2780973918","wikidata":"https://www.wikidata.org/wiki/Q7099016","display_name":"Option value","level":3,"score":0.8501107692718506},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.724852979183197},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.6410757303237915},{"id":"https://openalex.org/C1898038","wikidata":"https://www.wikidata.org/wiki/Q728255","display_name":"Asian option","level":3,"score":0.5955028533935547},{"id":"https://openalex.org/C6927289","wikidata":"https://www.wikidata.org/wiki/Q1100466","display_name":"Present value","level":2,"score":0.5388299226760864},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.5308927893638611},{"id":"https://openalex.org/C2777388388","wikidata":"https://www.wikidata.org/wiki/Q6821213","display_name":"Wage","level":2,"score":0.44720566272735596},{"id":"https://openalex.org/C42866809","wikidata":"https://www.wikidata.org/wiki/Q466764","display_name":"Fixed cost","level":2,"score":0.43530622124671936},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.38828974962234497},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.2958644926548004},{"id":"https://openalex.org/C194483076","wikidata":"https://www.wikidata.org/wiki/Q380382","display_name":"Valuation of options","level":2,"score":0.27279406785964966},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.26436910033226013},{"id":"https://openalex.org/C79179835","wikidata":"https://www.wikidata.org/wiki/Q958242","display_name":"Sunk costs","level":2,"score":0.12020546197891235},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.11531350016593933},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0}],"mesh":[],"locations_count":8,"locations":[{"id":"pmh:http://www.rian.ie/90519/","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2262/64775","pdf_url":"http://hdl.handle.net/2262/64775","source":{"id":"https://openalex.org/S4306400033","display_name":"Arrow@dit (Dublin Institute of Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210144925","host_organization_name":"Technological University Dublin","host_organization_lineage":["https://openalex.org/I4210144925"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Burda, Michael C. 'Migration and the option value of waiting'. - Economic &amp; Social Review, Vol. 27, No. 1, October, 1995, pp. 1-19, Dublin: Economic &amp; Social Research Institute","raw_type":"Journal article"},{"id":"pmh:oai:CiteSeerX.psu:10.1.1.51.7176","doi":null,"is_oa":false,"landing_page_url":"http://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.51.7176","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"ftp://amadeus.wiwi.hu-berlin.de/pub/papers/sfb373/sfb1995/dpsfb950058.ps.Z","raw_type":"text"},{"id":"mag:2120618463","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:cpr:ceprdp:1229","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:hdl:10068/456051","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10068/456051","pdf_url":null,"source":{"id":"https://openalex.org/S4377196900","display_name":"OpenGrey (Institut de l'Information Scientifique et Technique)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I1295345811","host_organization_name":"Institut de l'Information Scientifique et Technique","host_organization_lineage":["https://openalex.org/I1295345811"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"R - Report"},{"id":"pmh:oai:DiVA.org:su-41928","doi":null,"is_oa":true,"landing_page_url":"http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-41928","pdf_url":null,"source":{"id":"https://openalex.org/S4306401559","display_name":"KTH Publication Database DiVA (KTH Royal Institute of Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I86987016","host_organization_name":"KTH Royal Institute of Technology","host_organization_lineage":["https://openalex.org/I86987016"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"info:eu-repo/semantics/report"},{"id":"pmh:oai:RePEc:cpr:ceprdp:1229","doi":null,"is_oa":false,"landing_page_url":"http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=1229","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:tara.tcd.ie:2262/64775","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2262/64775","pdf_url":null,"source":{"id":"https://openalex.org/S4306400387","display_name":"Trinity's Access to Research Output (TARA) (Trinity College Dublin)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I205274468","host_organization_name":"Trinity College Dublin","host_organization_lineage":["https://openalex.org/I205274468"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-sa","license_id":"https://openalex.org/licenses/cc-by-nc-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economic &amp; Social Review","raw_type":"Journal Article"},{"id":"mag:3121464738","doi":null,"is_oa":true,"landing_page_url":"http://www.tara.tcd.ie/bitstream/handle/2262/64775/27%20oct%2095%20burda.pdf?sequence=1","pdf_url":null,"source":{"id":"https://openalex.org/S47389216","display_name":"Economic and social review","issn_l":"0012-9984","issn":["0012-9984"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":["abdc-b","anvur-scientific","jufo-1","norway-1","poland-40","russia-white-list-3","vabb-shw"],"host_organization":"https://openalex.org/P4310318533","host_organization_name":"Amsterdam University Press","host_organization_lineage":["https://openalex.org/P4310318533"],"host_organization_lineage_names":["Amsterdam University Press"],"type":"journal"},"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":"Economic and social review","raw_type":null}],"best_oa_location":{"id":"pmh:http://www.rian.ie/90519/","doi":null,"is_oa":true,"landing_page_url":"http://hdl.handle.net/2262/64775","pdf_url":"http://hdl.handle.net/2262/64775","source":{"id":"https://openalex.org/S4306400033","display_name":"Arrow@dit (Dublin Institute of Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4210144925","host_organization_name":"Technological University Dublin","host_organization_lineage":["https://openalex.org/I4210144925"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Burda, Michael C. 'Migration and the option value of waiting'. - Economic &amp; Social Review, Vol. 27, No. 1, October, 1995, pp. 1-19, Dublin: Economic &amp; Social Research Institute","raw_type":"Journal article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2120618463.pdf","grobid_xml":"https://content.openalex.org/works/W2120618463.grobid-xml"},"referenced_works_count":23,"referenced_works":["https://openalex.org/W572805878","https://openalex.org/W1513622057","https://openalex.org/W1537751116","https://openalex.org/W1590783674","https://openalex.org/W1604213495","https://openalex.org/W1842741107","https://openalex.org/W1855333168","https://openalex.org/W1886305637","https://openalex.org/W1971751508","https://openalex.org/W1975113112","https://openalex.org/W2023737649","https://openalex.org/W2030160111","https://openalex.org/W2033739349","https://openalex.org/W2038865462","https://openalex.org/W2040121361","https://openalex.org/W2040826293","https://openalex.org/W2057172241","https://openalex.org/W2083617993","https://openalex.org/W2134381504","https://openalex.org/W2168019076","https://openalex.org/W2259886999","https://openalex.org/W2798213597","https://openalex.org/W3121199680"],"related_works":["https://openalex.org/W1517681062","https://openalex.org/W1862970738","https://openalex.org/W1608703279","https://openalex.org/W2208666332","https://openalex.org/W2026002859","https://openalex.org/W2003096168","https://openalex.org/W1483389720","https://openalex.org/W1578932014","https://openalex.org/W6907605610","https://openalex.org/W3004332054"],"abstract_inverted_index":{"Migration":[0,28],"is":[1,67],"an":[2],"investment:":[3],"it":[4],"involves":[5],"fixed,":[6],"unrecoverable":[7],"costs":[8],"and":[9,59,75,85],"uncertain":[10],"future":[11],"returns.":[12],"If":[13],"migration":[14,51,105,118],"can":[15],"be":[16],"postponed,":[17],"the":[18,50,70,79,97,101,104,144],"option":[19,63,132],"value":[20,45,64,102,133],"of":[21,35,65,81,96,103,112,134],"doing":[22],"so":[23],"may":[24,29,120],"have":[25],"positive":[26],"value.":[27],"not":[30],"occur":[31],"for":[32],"a":[33,42,108],"range":[34],"individuals":[36],"who":[37],"would":[38],"otherwise":[39],"migrate":[40],"on":[41],"net":[43],"present":[44],"basis.":[46],"This":[47],"paper":[48],"models":[49],"decision":[52],"using":[53],"ideas":[54],"developed":[55],"by":[56],"Pindyck":[57],"(1991)":[58],"Dixit":[60],"(1992).":[61],"The":[62,87],"waiting":[66],"related":[68],"to":[69,143],"interest":[71],"rate,":[72],"fixed":[73],"costs,":[74],"especially":[76],"uncertainty":[77],"governing":[78],"evolution":[80],"income":[82],"at":[83],"home":[84],"abroad.":[86],"\"bad":[88],"news":[89],"principle\"":[90],"predicts":[91],"that":[92],"only":[93],"unfavorable":[94],"states":[95],"world":[98],"will":[99],"affect":[100],"option.":[106],"In":[107],"rational":[109],"intertemporal":[110],"equilibrium":[111],"two":[113],"regional":[114],"labor":[115],"markets,":[116],"low":[117],"rates":[119],"coexist":[121],"with":[122],"large":[123],"or":[124],"even":[125],"increasing":[126],"current":[127],"wage":[128],"differentials.":[129],"Keywords:":[130],"migration,":[131],"waiting,":[135],"mobility":[136],"JEL":[137],"Classification":[138],":":[139],"J61":[140],"Lecture":[141],"presented":[142],"Irish":[145],"Economic":[146],"Association,":[147],"Ballyconnell,":[148],"County":[149],"Cavan,":[150],"Ireland,":[151],"M...":[152]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":8},{"year":2020,"cited_by_count":6},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":5},{"year":2017,"cited_by_count":5},{"year":2016,"cited_by_count":6},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":4},{"year":2013,"cited_by_count":6},{"year":2012,"cited_by_count":1}],"updated_date":"2026-11-03T10:50:19.383937","created_date":"2016-06-24T00:00:00"}
