Data/hora: 11/06/2024 17:40:21

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