This dissertation proposes an optimal investment decision model that accounts for project irreversibility and price uncertainty. By specifying the cash flow as a dual profit function, the methodology admits hog and feed prices, rather than a composite cash flow, as the underlying stochastic...

Concerns in the United States meat industry about food credence attributes, such as environmental degradation, animal welfare and antibiotics usage in live animal production are forcing food suppliers to change marketing strategies. These changes have brought three issues into the forefront of...