Agriculture represents an important political and economic issue in the stage of the EU enlargement. This is especially true for Poland, since it has the largest agricultural sector. The paper outlines the changes of agricultural policies and their impacts on the organisational structure....

The TRIP agreement is, economically speaking, a dogs dinner. It ignores the diverging requirements countries have for the protection of intellectual property rights depending on their state of economic development. Furthermore, the agreement does not take into account the fact that incentives...

We characterize optimal investment and compensation strategies in a model of an investment opportunity with managerial incentive problems, caused by asymmetric information over investment costs and the manager's desire to consume slack, and flexibility over the timing of its acceptance. The...

The purpose of this paper is to study the effects of introducing information systems into a model featuring managerial incentive problems and investment opportunities that are mutually exclusive over time. In a principal-agent model in which a manager (agent) has superior information about...

The contracts we consider in this paper must solve three problems: moral hazard, insurance and discrimination. The moral hazard problem is that of providing the agents with incentives to perform in a way that maximizes the profit to the principal, when the agent's actions are unobservable. The...

This paper analyzes a contract between farmers and a large company in the Danish food industry, Danisco Foods. Production of green peas requires a very accurate coordination, which is obtained through centralized decision-making. The contract is based on a tournament system providing risk...

In perfectly competitive markets taxes and quotas are fully equivalent measures for environmental protection. Based on this regulators' revealed preferences for quotas over that of fees finds its explanation in the procedures and spirits of political decision making. This paper offers another...

International trade liberalisation often implies increased potentials for export production. For investing in increasing capacity in agriculture, farmers need to have credit access. However, farmers in many countries are credit constrained, e.g. due to collateral reasons, which is the case in...

In the competition between supply chains, governance structure and coordination mechanisms can be as important as cost-efficiency. Flexible and non-committing contracts among upstream suppliers in cooperative alliances may lead to lower chain surplus through internal competition and renders the...

The development of theory on agricultural income problems springs from empirical investigations showing that agricultural income is unstable over time, and that compared to other trades, it is diminishing. The theorists explain this with the fact that agricultural production factors are...