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...

Increases in water demand due to population growth, industrial development and urbanization necessitate economically efficient use of water resources worldwide. This is particularly true in the dryland zones of the world relying on irrigated agriculture for economic development such as in...

Many studies conclude that the rise in global food prices due to higher demand from the development of biofuels, climate anomalies, and increased of oil prices. Not only the food commodity index rose more than 60 percent, nonfood commodity price index also rose over 60 percent and crude oil...

A changing world of increasing complexity, fluctuating prices, high energy costs and limited data necessitate creative blending of economic theory and available empirical statistics to understand the welfare impacts in a specific market. In this paper, a programming approach is used in tandem...

Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula...

Groundnut is an important component of the national food supply. It does not only have nutritional and dietary value, groundnut also provides cash to farmers; enrich the soil with nitrogen through biological nitrogen fixation; and its haulms can be used as fodder and fuel. Groundnut production...