Farm-level adaptation to changing economic environments is often slower than expected. Technological innovations, for instance, are frequently adopted at a later date than the net present value of investment suggests. This can be explained by a model of “investment under uncertainty,” which...

Seit Mitte der 1990er Jahre werden "Wetterderivate" als neues Instrument zum Management wetterbedingter Mengenrisiken diskutiert. Im Gegensatz zu schadensbezogenen Versicherungen erfolgt der Hedge bei Wetterderivaten durch an Wetterindizes (Niederschlagssummen, Temperatursummen etc.) gekoppelte...

Seit Mitte der 1990er Jahre werden „Wetterderivate“ als neues Instrument zum Management etterbedingter Mengenrisiken diskutiert. Im Gegensatz zu schadensbezogenen Versicherungen erfolgt der Hedge bei Wetterderivaten durch an Wetterindizes (Nieder-schlagssummen, Temperatursummen etc.)...

Mathematical programming has for a long time been recognized as a powerful tool. Despite its capacity for solving constrained optimization problems under uncertainty, some methodological obstacles have persisted over the years. The main problem is that the eventually complex results of an...

The probability that buyers are deceived with regard to the quality or safety of purchased products (moral hazard) increases with the profits which suppliers can earn through opportunistic behavior. It decreases with the probability and level of losses that result from disclosure of malpractice....

Data Envelopment Analysis (DEA) is widely used to compare the empirical performance of decision making units such as firms or public bodies. With a view to the recent boom of applications to a very wide range of different problems, this paper shows for which data and problem structures DEA...

"Mathematical programming has for a long time been recognized as a powerful tool. Despite its capacity for solving constrained optimization problems under uncertainty, some methodological obstacles have persisted over the years. The main problem is that the eventually complex results of an...

Agricultural production relies to a great extent on biological processes in natural environments. In addition to volatile prices, it is thus heavily exposed to risks caused by the variability of natural conditions such as rainfall, temperature and pests. With a view to the apparently lacking...

This paper examines whether there is room for the improvement of farm program decisions through the incorporation of mathematical optimization in the practical planning process. Probing the potential for improvement, we investigate the cases of four German cash crop farms over the last six...