[PHOTO]

Margaret Insley

Associate Professor
Department of Economics
University of Waterloo

Education

BA (University of Calgary, Economics)
MA (University of Alberta, Economics)
PhD (University of Guelph, Economics)



Research Interests

Current interests include: investment under uncertainty, environmental and natural resource economics, forestry economics, tradable emissions permits, real options.



Teaching

Undergraduate classes: Energy and Natural Resource Economics (Ec 355), Environmental Economics (Ec 357), Cost Benefit Analysis (Ec 361)
Graduate classes: Natural Resource Economics (Ec 655), Real Options and Investment (Ec 659)

Some Selected Publications

1. M. Insley and M. Lei, Hedges and trees: Incorporating fire risk into optimal decisions in forestry using a no-arbitrage approach.Journal of Agricultural and Resource Economics,32(3), 492-514, December 2007 .

2. M. Insley and K. Rollins, On solving the multi-rotational timber harvesting problem with stochastic prices: a linear complementarity formulation, American Journal of Agricultural Economics 87(3), 735-755,2005.

3. M. Insley, On the option to invest in pollution control under a regime of tradable emissions allowances, Canadian Journal of Economics, Vol. 35, No. 4, 860-883, November 2003.

4. M. Insley, A Real Options Approach to the Valuation of a Forestry Investment, Journal of Environmental Economics and Management, Vol. 44, 471-492, 2002.

5. M. Forsyth*, On the Option Value of Preserving a Wilderness Area, Canadian Journal of Economics, Vol. 33, No.2, 413-434, May 2000.

6. M. Forsyth*, The Economics of Site Investigation for Groundwater Protection: Sequential Decision-Making under Uncertainty, Journal of Environmental Economics and Management, Vol. 34, No. 1, pages 1-31, Sept. 1997.

*Note: Name change from Forsyth to Insley in July 2000.

Recent discussion papers:

M. Insley and T. Wirjanto, Contrasting two approaches in real options valuation: contingent claims versus dynamic programming. Current revised version: July 2008.

Shan Chen and Margaret Insley, Regime switching in stochastic models of commodity prices: An application to an optimal tree harvesting problem August 2008.

Office: HH 211, x32422
email: minsley at uwaterloo dot ca

University of Waterloo, Dept. of Economics
200 University Ave. W
Waterloo, Ontario N2L 3G1
CANADA
+1 519 888 4567 x38918

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Last modified: December 2007.