The objective of this paper is to set a complete ex-ante evaluation to support Decision Makers in designing more efficient and effective agri-environmental contracts, through an integrated modelling of elements of private and public decision making. Ex-ante comparison of policy design options in...

In this paper we study the optimal forest conservation policy by a hyperbolically discounting society. Society comprises a series of non-overlapping imperfectly altruistic generations each represented by its own government. Under uncertainty about future pay-offs we determine, as solution of an...

Agrarian structures are often characterized by some kind of economic inertia. It is particularly puzzling why unprofitable farms persist over time instead of being sold. In this paper we analyze the exit decision of farmers using the real options approach. The validity of the real options theory...

As consumer preferences rapidly evolve with respect to health-related attributes of food, many have questioned the performance of the conventional food industry to fulfill new demand. As the structure of the industry has shifted toward conditions where retailers have access to and incentive to...

Innovation and new technology adoption represent two central elements for the enterprise and industry development process in agriculture. The objective of the paper is to provide an ex-ante analysis of the effectiveness of alternative policy design options concerning the RDP measures intended to...

The adoption of organic agriculture or livestock involves risk and uncertainty, and to overcome this, well designed schemes are required. Are the current support measures attractive for farmers who wish to convert to organic? At first, this study tries to assess the optimal investment trigger...

New policy measures have been introduced to transform Greece’s agriculture into a more modern and environmentally friendly agriculture. Adopting new technology and environmentally friendly production systems involves risk and uncertainty, which in turn stress the need for well designed policy...

Latest developments in investment analysis offer a number of valuable insights into how to evaluate investment opportunities encountering the weaknesses of net present value criterion. More specific, irreversibility, uncertainty and the choice of timing are conditions that net present value does...

In recent years, the dairy sector has been exposed to strong changes in general conditions and extreme fluctuations in milk prices. Farmers and lobbyists have therefore asked politicians for additional market regulation. In this paper an agent-based real options market model is developed, which...

We present a dynamic stochastic programming model that reects the typical bargaining situation concerning large land deals in Africa. The model allows assessing the e¤ect of market- and country-speci…c risks and taxation. It shows that commodity price volatility increases the value of the land...