The mid-term review of the Common Agricultural Policy will change the way the European Union supports its farm sector. The new Common Agricultural Policy will be geared towards consumers, and taxpayers, while giving farmers the freedom to produce what the market wants. In the future, the...

The mid-term review of Common Agricultural Policy increases the complexity of the decision-making process of farmers. The subsidies are substituted for a single decoupled income payment. The farmers decide what crops and livestock will produce based on climate, soils conditions and agricultural...

The maximum entropy principle can be used to assign utility values when only partial information is available about the decision maker’s preferences. In order to obtain such utility values it is necessary to establish an analogy between probability and utility through the notion of a utility...

This research develops a mathematical programming model to maximize the expected utility of the farmers' wealth-producing cereals in the Alentejo dryland region of Portugal, and it is used to determine the premium rate that crop farmers are willing to pay for reducing the variability of their...

This paper describes an experiment that was carried out in order to examine the decision making process of farmers in the Alentejo dryland region of Portugal. Cumulative Prospect Theory allows modeling the Alentejo dryland farmers' decision process, because when they decide what crops and...

Kosowski, Timmermann, Wermers, and White (2006) find that certain growth-oriented fund managers have substantial skill but do not stipulate the particular skills that they possess. We examine in detail the style-timing abilities of 3,181 US growth-oriented equity mutual funds over the period...

Recently developed corporate bankruptcy prediction models adopt a contingent claims valuation approach. However, despite their theoretical appeal, tests of their performance compared with traditional simple accounting-ratio-based approaches are limited in the literature. We find the two...

Purpose – This paper aims to help explain the rapid growth in aggregate hedge fund assets under management until June 2008 followed by their subsequent dramatic collapse in terms of the conflicting emotions such investment vehicles evoke, and, from this, to consider the implications of the...

This study explores whether security analysts recognize firms’ going-concern problems and report appropriately to investors. We find that analysts signal their anticipation of the publication of a going-concern modified (GCM) audit report in two ways: 1) they downgrade more aggressively stock...