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Making a market for Miscanthus: Can new contract designs solve the biofuel investment hold-up problem? AgEcon
Wu, Steven Y.; Rosch, Stephanie D.; Alexander, Corinne E.; Tyner, Wallace E.; Yoder, Joshua.
We present designs for optimal contracts to solve the investment hold-up problem for perennial crops for the biofuel industry. A fixed-price contract is ex-ante efficient but renegotiation-proof for a limited range of discount parameters. A perfectly- indexed contract is both renegotiation-proof and ex-post efficient. Provided long-run land prices are stationary, the expected cost for both contracts converges to the long-run expected price of land for a risk-neutral farmer.
Tipo: Conference Paper or Presentation Palavras-chave: Biofuels; Miscanthus; Contract theory; Industrial organization; Renegotiation-proof contract; Marketing.
Ano: 2010 URL: http://purl.umn.edu/61743
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CLIMATE CHANGE, AGRICULTURE AND POVERTY AgEcon
Hertel, Thomas W.; Rosch, Stephanie D..
Even though much has been written about climate change and poverty as distinct and complex problems, the link between them has received little attention. Understanding this link is vital for the formulation of effective policy responses to climate change. In this article, we focus on agriculture as a primary means by which the impacts of climate change are transmitted to the poor, and as a sector at the forefront of climate change mitigation efforts in developing countries. In so doing, we offer some important insights that may help shape future policies as well as ongoing research in this area.
Tipo: Conference Paper or Presentation Palavras-chave: Agricultural and Food Policy; Environmental Economics and Policy; Food Security and Poverty; Resource /Energy Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/91437
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