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	Provedor de dados AgEcon (2) Autor Musshoff, Oliver (2) Odening, Martin (2) Schade, Christian (2) Maart, Syster Christin (1) Sandri, Serena (1) Palavra-chave Agricultural Finance (2) Disinvestment (2) Experimental Economics (2) Agribusiness (1) Agricultural and Food Policy (1) C91 (1) D81 (1) D92 (1) Exit Behavior (1) Farm Management (1) Institutional and Behavioral Economics (1) Real Options (1) Real-Options (1) Mais... Tipo do documento Conference Paper or Presentation (1) Working or Discussion Paper (1) Ano 2011 (1) 2010 (1) País United States (2) Idioma Inglês (2)		Ordenar por:  Relevância Autor Título Ano Registros recuperados: 2 Primeira ... 1 ... Última Closing down the Farm: An Experimental Analysis of Disinvestment Timing AgEcon Maart, Syster Christin; Musshoff, Oliver; Odening, Martin; Schade, Christian. Agrarian structures are often characterized by some kind of economic inertia. It is particularly puzzling why unprofitable farms persist over time instead of being sold. In this paper we analyze the exit decision of farmers using the real options approach. The validity of the real options theory is assessed by means of laboratory experiments. Our results show that real options models are able to predict actual disinvestment decisions better than traditional investment theory. Nevertheless, the observed disinvestment reluctance was even more pronounced as predicted by theory. This finding suggests the inclusion of bounded rationality into normative disinvestment models. Tipo: Conference Paper or Presentation Palavras-chave: Disinvestment; Real Options; Experimental Economics; Agricultural Finance; Farm Management; C91; D81; D92. Ano: 2011 URL: http://purl.umn.edu/114375 Holding on for too long? An experimental study on inertia in entrepreneurs’ and non-entrepreneurs’ disinvestment choices AgEcon Sandri, Serena; Schade, Christian; Musshoff, Oliver; Odening, Martin. Disinvestment, in the sense of project termination and liquidation of assets including the cession of a venture, is an important realm of entrepreneurial decision-making. This study presents the results of an experimental investigation modeling the choice to disinvest as a dynamic problem of optimal stopping in which the patterns of decisions are analyzed with entrepreneurs and non-entrepreneurs. Our experimental results reject the standard net present value approach as an account of observed behavior. Instead, most individuals seem to understand the value of waiting. Their choices are weakly related to the disinvestment triggers derived from a formal optimal stopping benchmark consistent with real options reasoning. We also observe a pronounced... Tipo: Working or Discussion Paper Palavras-chave: Real-Options; Disinvestment; Exit Behavior; Experimental Economics; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Institutional and Behavioral Economics. Ano: 2010 URL: http://purl.umn.edu/59518 Registros recuperados: 2 Primeira ... 1 ... Última

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