"Contract farming is conventionally thought of as a form of industrial organization that helps to overcome high monitoring, supervision, and environmental mitigation costs incurred from ensuring a reliable and uniform-quality supply (from the standpoint of integrators) and high capital and...

The principle that the simplest model capable of describing observed phenomena should also correspond to the best description has long been a guiding rule of inference. In this paper a Bayesian approach to formally implementing this principle is employed to develop model selection criteria for...

Many decision makers operate in dynamic environments in which markets, competitors, and technology change regularly. The ability to detect and respond to these regime shifts is critical for economic success. We conduct three experiments to test how effective individuals are at detecting such...

In the literature, studies on real estate market were mainly concentrating on the relation between property price and some key factors. The trend of the real estate market is a major concern. It is believed that changes in trend are signified by some jump points in the property price series....

This paper considers model uncertainty for multistage stochastic programs. The data and information structure of the baseline model is a tree, on which the decision problem is defined. We consider “ambiguity neighborhoods” around this tree as alternative models which are close to the...