This article solves and characterizes optimal decision rules to invest in irreversible land improvements conditional on land tenure insecurity. Economic model is a normative dynamic programming model with known parameter for the one period returns and transition equations. The decision rules are...

This study examines and compares farmers' succession plans and actual succession behaviour and finds that the farm operator's age and regional variables influence both. We also find a discrepancy between intention and actual behaviour which is significantly related to the farm operator's age....

This paper estimates optimal hedging ratios for a Finnish spring wheat producer under price and yield risk. The forward contract available for hedging fixes the price and quantity at the time of sowing for a delivery at harvest. Autoregressive models are used to obtain point forecasts for the...