This paper presents an econometric analysis of land-cover change in western Honduras. Ground-truthed satellite image analysis indicates that between 1987 and 1996, net forest regrowth occurred in the 1015 km2 study region. While some forest regrowth can be attributed to a 1987 ban on logging,...

Many investment decisions of agribusiness firms, such as when to invest in an emerging market or whether to expand the capacity of the firm, involve irreversible investment and uncertainty about demand, cost or competition. This paper uses an option-value model to examine the factors affecting...