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| Registros recuperados: 21 | |
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| Stefanou, Spiro E.. |
| The definition and measurement of dynamic economic performance has been addressed obliquely in the literature with the notions of scope economies and capacity utilization measures, but little work has focused on develop the static theory analogs of efficiency measures into the dynamic context. This paper is an attempt to identify some of the conceptual and methodological issues to be addressed. A model allowing for dynamic production decisions in the face of inefficiency is presented to illustrate some of the issues and the extensions necessary to identify truly dynamic performance measures. |
| Tipo: Journal Article |
Palavras-chave: Agricultural and Food Policy; Production Economics. |
| Ano: 2009 |
URL: http://purl.umn.edu/58278 |
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| Luh, Yir-Hueih; Stefanou, Spiro E.. |
| The model of production decision making for the expected utility maximizing firm under output price uncertainty is applied to a panel Pennsylvania dairy operators. The model generalized duality implemented in this paper has the advantage of generating a system of supply and variable factor demand functions that consistently account for the presence of output price risk. The application to Pennsylvania dairy operators indicates that output price risk measured by the second and third moments of individual operators' historical output price series is not an important factor in production decision making. In addition to not maximizing expected utility, these operators are not expected profit maximizers. |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1989 |
URL: http://purl.umn.edu/28872 |
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| Emvalomatis, Grigorios; Stefanou, Spiro E.; Oude Lansink, Alfons G.J.M.. |
| The main objective of this paper is to generate measures of TFP change for the food, beverages, and tobacco industry in the EU. Explicitly taking into account the fact that some of the inputs used in the industry are fixed in the short run, the generated measures of TFP change reflects the dynamic nature of the problem. The second objective is to analyse TFP change into its components and explicitly examine the effect of Research and Development (R&D) effort on TFP growth. Data are collected from EU KLEMS and the OECD Structural Analysis database. The data contain country-level information on output volume, input prices and capital stock, as well as R&D expenditure for the food, beverages, and tobacco industry for the 15 “old” EU Member States.... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: TFP change; Food Industry; R&D.; Agricultural and Food Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/58011 |
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| Grisley, William; Stefanou, Spiro E.; Dickerson, Ted. |
| The effect that selected characteristics of a Pennsylvania hay auction has on winning bids of loads of hay are presented in this paper. Survey data from 107 buyers over the period September 1982 to April 1983 were used. Hay type, perceived quality, and the intended use of the hay were found to be significant factors in explaining prices paid per ton. Sellers could increase their revenues by producing alfalfa hay, alfalfa and legume-grass hay of higher quality, and attending marketing days with a larger number of horse feed buyers. |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1985 |
URL: http://purl.umn.edu/28930 |
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| Serra, Teresa; Stefanou, Spiro E.; Gil, Jose Maria; Featherstone, Allen M.. |
| This paper assesses the impacts of decoupled government transfers on production decisions of a sample of Kansas farms observed from 1996 to 2001. Our model allows for risk, risk attitudes and the intertemporal investment decisions. We also allow for different adjustments of the decision variables depending on the predominant economic conditions. The theoretical model is estimated using the threshold regression methods proposed by Hansen (1999). Threshold effects are allowed to characterize the behavior of output supply and quasi-fixed and variable input demand.. The econometric results support the existence of three regimes characterized by different economic behavior. Our analysis suggests that in a dynamic setting with risk and non-risk neutral economic... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Investment; Decoupling; Threshold Behaviour; Farm Management; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/6511 |
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| Hranaiova, Jana; Stefanou, Spiro E.. |
| SUMMARY: This study focuses on the analysis of the production behavior and risk preferences in the presence of output price uncertainty. Following a theoretical model based on the assumption of maximization of expected utility of profits, the approach used in this study infers information about risk preferences from the production characteristics of the farm. In addition, the nonparametric method of estimating elasticity of scale and technical change eliminates the need to impose a uniform production or cost functions on individual producers. The approach is applied to a panel of dairy farms, which are evaluated for their elasticity of scale and the total productivity growth components of their operations. Estimates of farmers' risk attitudes... |
| Tipo: Journal Article |
Palavras-chave: Uncertainty; Risk Aversion; Productivity Growth; Productivity Analysis; Q14. |
| Ano: 2002 |
URL: http://purl.umn.edu/28760 |
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| Lambarraa, Fatima; Stefanou, Spiro E.; Gil, Jose Maria. |
| The purpose of this paper is the evaluation of the investment decision under uncertainty and irreversibility allowing for long run inefficiency. The analysis has been applied to a 158 Spanish olive farms using FADN data set. A real option approach has been used to analyse the decision to invest under uncertainty and irreversibility, and a dynamic stochastic frontier model has been developed to estimate the long run technical efficiency and it persistence. The results show that the technical inefficiency persistence parameter is fairly low to unity, which means that small technical inefficiency is transmitted to the next time period. The olive groves investment is irreversible and characterized by uncertainty on price and discount rate. An increase of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Olive; Dynamic efficiency; Real option; Production Economics; Q12. |
| Ano: 2009 |
URL: http://purl.umn.edu/51397 |
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| Registros recuperados: 21 | |
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