Hinrichs, Jan; Musshoff, Oliver; Odening, Martin - Department für Agrarökonomie, Humboldt-Universität Berlin - 2005
German hog production responds only very limited to price fluctuations in the pork market. The hog production … investments characterize decision problems hog production. Thus the real option approach is chosen to explain the inertia in … economic hysteresis in the adjustment of hog production capacity. The results confirm that uncertainty and flexibility widen …