In this paper we develop a theoretical model that links dynamic efficiency measurement and optimal investment under uncertainty. It is widely acknowledged that uncertainty has an impact on the optimal factor use of a profit maximizing firm. This is particularly true for the optimal adjustment of...

In this paper we analyse agricultural land prices in the German Federal State of Brandenburg within the period 2000-2011. Our objective is to understand the price formation process in foreclosures. One effect of foreclosures relates to pressured sales, which likely lead to a price discount, and...

We experimentally investigate gender- and occupation-specific differences in market entry behavior and test whether female entrepreneurs are more willing to take strategic risk and engage in competition than other women. To facilitate strategic thinking, we induce asymmetric gain and loss...

This paper aims at explaining the importance of the democracy stance as compared to the efficiency stance in order to deal with complexity in biodiversity conservation. While the efficiency stance refers to the realm of relatively simple systems, individual rationality, and instrumental values,...

The transition process in central and eastern Europe (CEE) had a profound effect on how individuals interact. Economic and social institutions have changed, requiring an adaptation process by individuals in the move toward a market economy. How each individual accesses, manipulates and uses...

With regard to agri-environmental schemes under Regulation (EC) No. 1257/1999 in Europe a rather divers uptake as well as a lack of effectiveness and efficiency of these current schemes can be observed. In contrast to most of the related literature, we suggest that the ineffectiveness and...

Economic research on structural change in agriculture has repeatedly induced controversies about basic theoretical concepts, such as rational behaviour and equilibrium, and their analytical and political implications. To contribute to the epistemological dimension of this debate, the article...

We analyze the effects of prior gain and loss experiences on individuals’ behavior in two coordination games: battle of the sexes and simultaneous market entry. We propose subjectively transformed games that integrate elements of prospect theory, aggregation of prior and subsequent payoffs,...

This paper explains regionally differentiated patterns of structural change based on a theoretical framework dealing with strategic interaction of farms on the land market. The main research question focuses on the causes of regionally persistent structures. An empirical Markov chain model is...

Policies for rural areas have become an important but complex policy field in the European Union`s Common Agricultural Policy. The purpose of this paper is to report on a methodological approach pursued to model the allocation of EAFRD (European Agricultural Fund for Rural Development) funds in...