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| Registros recuperados: 1.657 | |
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| Lanfranco, Bruno A.. |
| En la pasada década, Uruguay tuvo su primera experiencia con el mercado de futuros de novillos para faena (MFN), el que funcionó durante los últimos meses de 1993 y hasta comienzos de 1994. El hecho que el MFN no sobreviviera más que unos pocos meses no implica necesariamente que los mercados de futuros para ganado en pie sean inviables en nuestro país. En este trabajo se examinaron algunas de las posibles razones que pueden explicar su fracaso. Es posible que al momento de su implementación no estuvieran dadas todas las condiciones necesarias para su desarrollo. Un punto a develar es si el bajo volumen operado en el MFN se debió a condiciones estructurales inherentes a las economías pequeñas y, por ende, imposibles de modificar o si, por el contrario,... |
| Tipo: Book |
Palavras-chave: Financial markets; Live cattle; Livestock market; Agribusiness; Financial Economics; Risk and Uncertainty; D81; G13; G14. |
| Ano: 2005 |
URL: http://purl.umn.edu/121755 |
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| Liu, Yanyan; Black, J. Roy. |
| By altering the probability distribution of farm income, crop insurance programs affect farmer's input use decision. Ramaswami's (1993) one-shock model analyzed the effect of the crop insurance on single input use by allowing the randomness of yield while keeping price constant in revenue determination. The total effect of actuarially fair insurance on input use was decomposed into risk reduction effect and moral hazard effect, and the directions of the two effects were examined. He showed that the total impact of actuarially fair crop insurance on input use was a) to reduce it if the input was risk decreasing and b) indeterminate if the input was risk increasing. However, the evidence from previous empirical work has been mixed. Horowitz and Lichtenberg... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2004 |
URL: http://purl.umn.edu/19947 |
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| Seo, Sangtaek; Salin, Victoria; Mitchell, Paul D.; Leatham, David J.. |
| This study determines the entry and exit thresholds of table grape farming with irreversible investment under uncertainty. Real option approach is adopted to consider the investment and management flexibility. Also revenue insurance is introduced to consider the effect of the risk management programs on the entry and exit thresholds. Results show that revenue insurance increases the entry and exit thresholds by 1% and 4%, respectively, thus discouraging new investment and current farming, as long as the revenue guarantee is less than the exit threshold. Revenue insurance increases the entry threshold by 3% and decreases the exit threshold by 13% as long as the revenue guarantee is greater than the exit threshold. In this case, revenue insurance... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2004 |
URL: http://purl.umn.edu/20229 |
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| Hughes, Neal; Hafi, Ahmed; Goesch, Tim; Brownlowe, Nathan. |
| Australian urban water utilities face a significant challenge in designing appropriate demand management and supply augmentation policies in the presence of increasing water scarcity and uncertainty over future dam inflows. This paper considers the design of optimal demand management and supply augmentation policies for urban water. In particular, scarcity pricing is considered as a potential alternative to the predominant demand management policy of water restrictions. A stochastic dynamic programming model of an urban water market is developed based on data from the Australian Capital Territory. The model involves an explicit consideration of uncertainty via a probability distribution over dam inflows. Given a specification of the demand and supply for... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Public Economics; Resource /Energy Economics and Policy; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/6005 |
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| Pitchford, R.. |
| This paper distinguishes between the hypothesis that the Victorian government developed a reputation for easy renewal of timber rights, so that the lack of clearly defined site sizes and the short-term nature of these rights did not matter, and the hypothesis that tenure and site size as written in law was the major determinant. A model of a firm's investment choice when there is uncertain tenure is developed to examine the effect of changes in the tenure prospect on capital intensity. The predictions of this model are then used to assess the competing hypotheses with reference to data on capital labour ratios and legislation regarding tenure and site size laws in Victoria and Tasmania from 1890 to 1927. |
| Tipo: Journal Article |
Palavras-chave: Productivity Analysis; Risk and Uncertainty. |
| Ano: 1994 |
URL: http://purl.umn.edu/22733 |
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| Petsakos, Athanasios; Rozakis, Stelios. |
| Positive Mathematical Programming (PMP) is one of the most commonly used methods of calibrating activity linear programming (LP) models in agriculture. PMP applications published thus far focus on the estimation of a farm’s nonlinear cost or profit function and rely on the recovery of unobserved or implicit information that can explain the initial model’s inability to calibrate. In this paper we use the PMP procedure to calibrate an expected utility model under the assumption that this implicit information can reveal a farmer’s profit expectations and risk attitude. The perfect calibration shows that PMP can be applied not only to LP models, but also to models that incorporate risk and this provides an interesting alternative to the traditional PMP... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: E-V analysis; Expected utility; Farm model; Positive Mathematical Programming; Risk.; Risk and Uncertainty. |
| Ano: 2011 |
URL: http://purl.umn.edu/114762 |
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| Registros recuperados: 1.657 | |
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