Data/hora: 06/06/2024 17:13:32

Provedor de dados: 	31	
País: 	United States	
Título: 	Closing down the Farm: An Experimental Analysis of Disinvestment Timing	
Autores: 	Maart,   Syster Christin; Musshoff,   Oliver; Odening,   Martin; Schade,   Christian.	
Data: 	2011-09-01	
Ano: 	2011	
Palavras-chave: 	Disinvestment; Real Options; Experimental Economics; Agricultural Finance; Farm Management; C91; D81; D92.	
Resumo: 	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	
Idioma: 	Inglês	
Identificador: 	http://purl.umn.edu/114375	
Relação: 	European Association of Agricultural Economists&gt;2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland	
Formato: 	13