What We Have Called in Class the "Canonical" Formula for Determining

What we have called in class the "canonical" formula for determining the OCC of a development project investment is based on all of the following except:

A) Equilibrium exists within the market for developable land.
B) Equilibrium exists across the markets for developable land, stabilized built) properties, and bonds or instruments with low-risk debtlike cash flows) .
C) The investor will be irreversibly committed to completing the subject development project.
D) Development is a "real option" in which the developer/landowner has the flexibility to postpone development.

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