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| Tzouramani, Irene; Mattas, Konstadinos. |
| Latest developments in investment analysis offer a number of valuable insights into how to evaluate investment opportunities encountering the weaknesses of net present value criterion. More specific, irreversibility, uncertainty and the choice of timing are conditions that net present value does not include but they alter the investment decision in critical way. Employing contingent claims analysis in tangible investments several assumptions made by discount cash flow method are concerned and better assessment results can be derived. In this work, an attempt is made to apply real options methodology in agricultural investments. Many agricultural investors face a growing uncertainty environment with high sunk investments and net present value criterion has... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Real options; Irreversibility; Option value; Agriculture; Investment; Policy; Crop Production/Industries. |
| Ano: 2002 |
URL: http://purl.umn.edu/24835 |
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| Tzouramani, Irene; Karanikolas, Pavlos; Alexopoulos, George; Sintori, Alexandra; Liontakis, Angelos E.. |
| After the introduction of the new tobacco regime, many regions in Greece, formerly specialized in tobacco cultivation, are now facing serious threats of economic and social decline. Sheep farming is considered by many analysts as a viable alternative to tobacco. This study analyses the financial performance of sheep production and the risk that producers are taking. Through a stochastic efficiency analysis with respect to a function we explore the economic viability of conventional and organic sheep farming; key factors determining the economic outcome of these activities are also investigated. Both organic and conventional sheep farming appear as viable alternatives. The viability of organic farming lies, mainly, in organic payments. Conventional farming... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Organic farming; Dairy sheep; Risk analysis; SERF; Agricultural policy; Agricultural and Food Policy; Farm Management; Livestock Production/Industries; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/6695 |
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| Tzouramani, Irene; Liontakis, Angelos E.; Sintori, Alexandra; Alexopoulos, George. |
| Organic farming has experienced a vast increase within the EU, despite the fact that it implies greater risk and uncertainty than that of conventional farming. This is the result of the increased environmental concern and the rising demand for quality food, which led to the implementation of the organic policy scheme. Nevertheless, the production of organic fruits, including cherries, is still limited in the EU. Farmers will adopt this alternative farming system only if the support provided by the existing policy regime out weights the increased risk and uncertainty. This study explores the effectiveness of the current policy measures for the production of organic cherries in Greece, using the real options methodology. The framework of real options... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Keywords: organic agriculture; Real options; Agriculture policy; Uncertainty; Agricultural and Food Policy; D81; Q14; Q18. |
| Ano: 2009 |
URL: http://purl.umn.edu/51079 |
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| Tzouramani, Irene; Karanikolas, Pavlos; Alexopoulos, George. |
| Drawing upon a comparative case study of organic and conventional farming in Western Greece, the aim of this study is threefold: firstly, to explore the organic and conventional farmers’ profile through a factor analysis. Secondly, to assess the economic viability of organic cultivation with respect to profitability and risk behaviour, through a Monte Carlo stochastic simulation model. Thirdly, to discuss the necessity for additional income insurance schemes. Research findings indicate that the organic cropping system currently stands out as the most economically viable alternative under the assumption of the existing payments; without payments, however, conventional agriculture would be preferred by all farmers, regardless of their degree of risk aversion |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Organic crops; Income variability; Risk analysis; SERF; Agricultural policy. |
| Ano: 2008 |
URL: http://purl.umn.edu/48116 |
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