Der kontinuierliche Rückgang landwirtschaftlicher Nutzfläche verbunden mit der Tendenz zu immer größeren landwirtschaftlichen Betrieben hat die Konkurrenz um den knappen Produktionsfaktor Boden in Deutschland erhöht. Von 2000 bis 2013 sind die Kaufpreise landwirtschaftlicher Nutzflächen...

This paper analyses the impact of a tradable production quota on firm entry and exit in the agricultural industry. We develop a dynamic stochastic equilibrium framework considering that a release of production capacity by exiting firms affects the investment options for entrants. Firms'...

Within this paper, we aim to investigate asymmetries among bidders in land auctions that may entail non-competitive prices. Using representative data for Eastern Germany including winning bids, bidder characteristics, and land amenities, we pursue a structural approach to derive distributions of...

Hedonic land price models often use parcel size as an explanatory variable. Empirical analyses, however, are rather ambiguous regarding the direction and the size of the effect of this variable on farmland values. The objective of this paper is to investigate this size-price relation in detail...

Sustainable intensification measures promise ecological improvements of farming while maintaining profitability. That is, farms should be able to produce at a higher ecological efficiency without losses in economic efficiency. Based on a theoretical framework, we investigate this promise...

This article investigates the role played by informational cost in agricultural land markets to explain price dispersion. Based on a hedonic model under incomplete information, we build a two-tier stochastic frontier. By linking costs of being information deficient to agent characteristics such...

Spätestens seit Erscheinen des viel zitierten Buches „Investment under Uncertainty“ von Dixitund Pindyck (1994) erfährt die neue Investitionstheorie (synonym: Realoptionstheorie) großeAufmerksamkeit. Neben theoretischen Weiterentwicklungen und Verfeinerungen wird dieRealoptionstheorie in...

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

Numerous studies have tried to provide a better understanding of firm-level investment behaviour using econometric models. The model specification of more recent studies has been based on two main approaches. The first, the real options approach, focuses on irreversibility and uncertainty in...

In der Literatur werden zahlreiche Versuche unternommen, das Investitionsverhalten von Unternehmen durch die Anwendung ökonometrischer Modelle zu verstehen. Die Spezifikation dieser Modelle stützt sich in der jüngeren Vergangenheit auf zwei Theoriebereiche. Zum einen ist dies die neue...