Upward spikes in international food prices lead some food-surplus countries to raise export barriers and some food-deficit countries to lower their import restrictions on staple foods – and conversely when prices slump. When many countries so respond, their actions in aggregate exacerbate...

This paper examines the relationship between uncertainty and investment decisions by food and non-food firms. Using hysteresis and the real options paradigm, we review why uncertainty might cause firms to delay investment. In particular, our model looks for a negative relationship between...

This paper provides a comparison between grain farms in Ontario and Illinois. The intent is to focus on how the two regions compare, economically, and how government programs in each region differ and affect asset valuations. In general the results indicate that the two economies move in tandem...

Land is the most important agricultural asset. Income risk due to farmland price volatility creates economic hardship for rural communities. Although inflation explains much of the farmland valuation problem, it remains to some extent a puzzle. We use wavelet-based statistical methods supported...

This paper developes a multiperiod model in which hedge adjustments are allowed. The two major marketing alternatives specified in the model are to sell in the spot market or to forward contract using formula pricing. To proxy the underlying forward contract value, the American put call parity...

The research was supported by National Natural Science Fund of China with ratification number 70873096.