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Issues of scale and scope in bio-physical modelling for natural resource management decision making in New South Wales AgEcon
Hill, Christine M.; Farquharson, Robert J.; Ferrier, Simon; Grieve, Alastair.
Natural resource management decision making by Catchment Management Authorities in NSW is being aided by a project involving bio-physical modelling and the development of an alternative decision-making framework. The objective of the bio-physical modelling process is to generate predictions of environmental or natural resource outcomes rather than project outputs. These outcomes can then be used in an investment framework to help priority setting and project decision making. Questions that arise in bio-physical modelling include those relating to scale and scope. Scale issues include how to address the landscape impacts of particular (or a series of local) on-ground works proposals. Scope issues include assessment of multiple-attribute responses to...
Tipo: Conference Paper or Presentation Palavras-chave: Environmental benefits; Bio-physical models; Scale; Scope; Investment decisions; Resource /Energy Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/10427
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The Impact of Price Floors -A Real Options Based Experimental Approach- AgEcon
Maack, Moritz; Maart, Syster Christin; Musshoff, Oliver.
In order to stimulate investments, agricultural policies frequently use price floors, which guarantee a price above a certain limit. In some cases, however, a price floor does not have the desired effects. In this study, we experimentally analyse differences in the investment be-haviour with respect to the presence of a price floor and compare the actual investment be-haviour to normative benchmarks of the net present value and the real options approach. Furthermore, we look at treatment order and learning effects. The results show that the price floor has no significant impact on the decision behaviour of participants, whereas the effects of treatment order were statistically significant. Regarding the analysis of policy impacts, the latter result shows...
Tipo: Presentation Palavras-chave: Price floors; Investment decisions; Real options; Experimental economics.; Demand and Price Analysis; C91; D81; E61..
Ano: 2012 URL: http://purl.umn.edu/124328
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A dynamic dual model under state-contingent production uncertainty AgEcon
Serra, Teresa; Stefanou, Spiro E.; Oude Lansink, Alfons G.J.M..
In this paper we assess how production costs and capital accumulation patterns in agriculture have evolved over time, by paying special attention to the influence of risk. A dynamic state-contingent cost minimization approach is applied to assess production decisions in US agriculture over the last century. Results suggest the relevance of allowing for the stochastic nature of the production function which permits to capture both the differences in the costs of producing under different states of nature, the differences in the evolution of these costs over time, as well as the differential impacts of different states of nature on investment decisions.
Tipo: Conference Paper or Presentation Palavras-chave: Risk; State-contingent; Dynamic model; Investment decisions; Agricultural and Food Policy; Farm Management; Land Economics/Use; D21.
Ano: 2010 URL: http://purl.umn.edu/61353
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