Turvey, Calum G.; Toole, Andrew A.; Kropp, Jaclyn D. - Institut für Lebensmittel und Ressourcenökonomik, … - 2007
This paper examines the relationship between uncertainty and investment decisions by food and non-food firms. Using hysteresis and the real options paradigm, we review why uncertainty might cause firms to delay investment. In particular, our model looks for a negative relationship between...