This thesis contributes to the understanding of the economic decision making of farmers. In five chapters, different experimental investigations of preferences and cognitive biases are presented. Various experimental measures of risk and time preference are applied to analyze farmers’...

This paper develops an agent-based real options model, which is capable of analyzing the investment and disinvestment decisions of heterogeneous competing firms under consideration of tradable output permits. A permit market is integrated into the model in which the firms can trade permits with...