Russia is a major player in the global wheat market, but extensive unused land resources and large yield gaps suggest that wheat production can be substantially increased. We combined time series of cultivated cropland, abandoned cropland and yield gap estimates to assess the potential...

This paper shows how agent-based stochastic approaches can provide a complementary and more flexible approach to study investment incentives and price dynamics in a real options framework. We particularly study the case of two-stage production chains in which one sector produces an intermediate...