Elmer, Nicole A.; Thurow, Amy Purvis; Johnson, Jason L.; … - In: Journal of Agricultural and Applied Economics 33 (2001) 03
The Dixit-Pindyck model was applied to examine the hypothesis that uncertainty associated with grapefruit production costs and returns is an important determinant of Texas grapefruit growers' investment behavior. Freezes, price variability, and the effects of expanded trade were analyzed as risk...