Irreversibility and uncertainty render the standard capital budgeting techniques such as net present value (NPV) analysis insufficient as a decision criterion. The standard NPV underestimates the value of the investment by not including the value of waiting for new information to reduce the...

Synergies are reported for mixed-enterprise farming systems in a benchmarking group in the Wheat-Sheep Zone in New South Wales, Australia. A stochastic input distance function is estimated and a measure of synergies is calculated, based on the second cross partial derivative of output variables...

We employ binary logit and Poisson estimators to model socioeconomic, institutional and environmental factors influencing the adoption of certified seeds, in particular, and integrated crop management practices, in general, in rice production in the Philippines. Estimates of factors influencing...