Im Pflanzenbau stellt die Bewässerung eine der wirksamsten Maßnahmen dar, um die Ertragsverluste infolge von Trockenheits- und Dürreereignissen zu vermeiden oder zu minimieren. Durch ein begrenztes Wasserdargebot besteht die Herausforderung, die Wasserverfügbarkeit für die Bewässerung zu...

Much of the land economics literature has largely ignored the spatial nature of competition and related differences between farmland rental and sales markets. In this note we propose a model for price formation in both markets under a spatial competition framework. We demonstrate that price...

Low investment rates are a puzzling phenomenon particularly in transition economies with an urgent need for modernisation. The literature offers two alternative explanations: imperfect capital markets and investment reluctance due to real options effects. In this paper, we develop a generalised...

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...

Nach einem drastischen Einbruch im vergangenen Jahr ziehen die Milchpreise wieder an. Doch auch künftig kann es zu Preiseinbrüchen in der Milchwirtschaft kommen. Zum einen wirken sich im Zuge der fortschreitenden Liberalisierung der Agrarmärkte internationale Marktentwicklungen verstärkt auf...

The continuous decline of commercial agricultural areas accompanied by a trend toward larger farms has increased competition for a scarce production factor in Germany: land. From 2000 to 2013, the purchase prices of agricultural land increased by 80 percent, according to the German Federal...

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...