Data/hora: 12/06/2024 00:49:44

Provedor de dados: | 31
País: | United States

Título:

Does vertical integration reduce investment reluctance in production chains? An agent-based real options approach

Kann vertikale Integration die Investitionszurückhaltung in Wertschöpfungsketten reduzieren? Ein agentenbasierter Realoptionsansatz

Autores: | Balmann,   Alfons; Musshoff,   Oliver; Larsen,   Karin.
Data: | 2010-03-17
Ano: | 2009
Palavras-chave: | Real options; Supply chain; Agent-based models; Genetic algorithms; Agribusiness; Agricultural and Food Policy; Agricultural Finance; Institutional and Behavioral Economics; Productivity Analysis.
Resumo: | This paper uses an agent-based real options approach to analyze whether stronger vertical integration reduces investment reluctance in pork production. A competitive model in which firms identify optimal investment strategies by using genetic algorithms is developed. Two production systems are compared: a perfectly integrated system and a system in which firms produce either the intermediate product (piglets) or the final product (pork). Simulations show that the spot market solution and the perfectly integrated system lead to a very similar production dynamics even with limited information on production capacities. The results suggest that, from a pure real options perspective, spot markets are not significantly inferior to perfectly integrated supply chains.
Tipo: | Working or Discussion Paper
Idioma: | Inglês
Identificador: | http://purl.umn.edu/59521

Relação:

Humboldt University Berlin&gt;Institute for Agricultural Economics and Social Sciences&gt;Structural Change in Agriculture/Strukturwandel im Agrarsektor (SiAg) Working Papers

SiAg-Working Paper

05

Formato: | 33