This paper examines the impact of technical efficiency on the optimal exit timing of farms in a stochastic dynamic framework. Starting from a standard real options approach, we incorporate technical efficiency via a production function and derive an optimal price trigger at which farms...

One component of biosecurity is protection against invasive alien species, which are one of the most important threats worldwide to native biodiversity and economic profitability in various sectors, including agriculture. However, agricultural producers are not homogeneous. They may have...

We develop conceptual and process simulation models to determine the probability of a recall and predict its size. We compare the costs of recalls with and without traceability for a ten year planning horizon by simulating the expected recalls caused by Escherichia coli O157:H7 contamination for...

Four out of every five women in Uganda are employed in agriculture, according to the 2008 Gender and Productivity Survey (GPS) in Uganda (EPRC, 2009); and 42 percent of women in the labour force are unpaid family workers—receiving no income despite contributing the largest proportion of the...

In the last few years Rare Earth Materials (REMs) prices have experienced a strong increase, due to geopolitical policies and sustainability issues. Provided that these materials at risk of supply disruptions are largely employed in the development of new technologies - such as clean energy...

Cattle feeding enterprises operate amid variability originating in prices and production. This research explicitly models yield risks related to cattle feeding by relating the mean and variance of yield performance factors to observable conditioning variables. The results demonstrate that pen...