A dynamic dual model of investment under uncertainty is applied to a panel of Finnish hog farms. Stochastic dynamic programming is used to characterize duality relations. The model accommodates irreversibility and/or asymmetric adjustment costs. Results have important implications for Finland's...

A comparative analysis was performed looking at using cash, futures, options, or insurance to manage the price of calves for cow-calf producer. Risk can be reduced with the futures market and with options or LRP insurance. Options and LRP insurance are equivalent in the amount of risk that is...

Includes: Front Cover, Table of Contents, Editorial Information

In diesem Beitrag werden zwei Modellansätze zur Integration von Risiko in die Data Envelopment Analyse (DEA) vorgestellt und exemplarisch auf ein balanciertes Panel von 278 unterschiedlich stark spezialisierten Schweinemastbetrieben angewendet. Beide Ansätze bilden das Risiko des...

The size of the cost to the Australian beef industry of a potential loss of major beef export markets following an outbreak of foot and mouth disease (FMD) in Australia is important in determining appropriate precautions. The size of this cost is evaluated with a dynamic bioeconomic model of...

In this paper, we assess the potential for rehabilitation of comparative analysis under its new guise of benchmarking. After a brief description of comparative analysis, we discuss the deficiencies that surrounded its fall in reputation: neglect of economic principles, limited scope for action,...

Includes cover page, journal info, contents page, and editorial information

NAREA Outstanding Master's Thesis Award, NAREA Master's Thesis Award of Merit, NAREA Distinguished Member Awards, NAREA Award for Outstanding Public Service Through Economics, and NAREA's Journal Article of the Year for 2008