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Registros recuperados: 45
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A Revised Conceptual Framework for Payments for Environmental Services Ecology and Society
Sommerville, Matthew M.; Department of Life Sciences, Imperial College London; m.sommerville06@imperial.ac.uk; Jones, Julia P. G.; School of Environment and Natural Resources, University of Bangor; julia.jones@bangor.ac.uk; Milner-Gulland, E. J.; Department of Life Sciences, Imperial College London; e.j.milner-gulland@imperial.ac.uk.
Over the past decade, “Payments for Environmental Services” (PES) have received a great deal of attention as a natural-resource management approach. We propose a revised definition and framework for PES implementation that focuses on the use of positive incentives as the philosophy behind PES and conditionality as the method for influencing behaviors. We note the importance of additionality of PES interventions to justify their value in a wider context. Finally, we highlight the need to understand the local institutional context in terms of the characteristics of buyers, sellers, and their relationship for implementation to be effective. Our framework acts as a platform to begin examining how the variety of options for structuring PES...
Tipo: Peer-Reviewed Insight Palavras-chave: Additionality; Conditional; Ecosystem services; Environmental management; Incentives; Institutions; Monitoring; Transactions.
Ano: 2009
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A Theory of Firm Decline AgEcon
Gian Luca, Clementi; Cooley, Thomas; Di Giannatale, Sonia.
We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of repeated moral hazard. In particular, our framework generates a rationale for firm decline. As young firms accumulate capital, the claims of both investor (outside equity) and entrepreneur (inside equity) increase. At some juncture, however, even as the latter keeps on growing, invested capital and firm value start declining and so does the value of outside equity. The reason is that incentive provision is costlier the wealthier the entrepreneur (the greater is inside...
Tipo: Working or Discussion Paper Palavras-chave: Principal Agent; Moral Hazard; Hidden Action; Incentives; Survival; Firm Dynamics; Financial Economics; D82; D86; D92; G32.
Ano: 2010 URL: http://purl.umn.edu/92788
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Agriculture in a Water-Scarce World AgEcon
Gilmour, Brad; Jotanovic, Aleksandar; Gurung, Rajendra Kumar; Polcyn, Tania; Deng, Hugh.
With a relatively small population and 7% of the world's available freshwater resources, Canada is well placed for a world of water scarcity where the real value of water in its many uses becomes more and more apparent. However, action is necessary to ensure that Canada continues to benefit from the social, economic and environmental goods and services derived from water resources. Experience and analysis suggests that policy and incentives play critical roles in the sustainable exploitation of natural resources. In particular, properly valuing water in all its forms and uses appears to be critical. Analysis abroad has underlined the benefits of clearly delineating the roles of regulators, resource managers, infrastructure operators and service...
Tipo: Report Palavras-chave: Water; Governance; Scarcity; Incentives; Sustainability; Valuation; Accountability; Transparency; Environmental Economics and Policy; Institutional and Behavioral Economics; International Relations/Trade; Resource /Energy Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/46689
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An Information Economic Rationale for Cooperatives AgEcon
Boetoft, Peter.
We consider how to organize the processing and marketing of an agricultural product when farming costs are known only by the individual farmers. We show that when marginal costs are un-correlated, the market for …nal goods is competitive, and the market for processing is non-competitive, the socially optimal production levels are sustained by a cooperative and a cooperative only. We show also that the cooperative form is particularly useful when the cost uncertainty is large and the net average revenue product is small.
Tipo: Conference Paper or Presentation Palavras-chave: Economics of cooperatives; Asymmetric information; Incentives; Rationing; Agribusiness.
Ano: 2005 URL: http://purl.umn.edu/24476
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Balancing Grower Protection Against Agency Concerns: An Economic Analysis of Contract Termination Damages AgEcon
Lee, Myoungki; Wu, Steven Y.; Fan, Maoyong.
This study examines legislation that would grant growers termination damages if their contracts are terminated. Our model suggests that, with no contracting frictions, damages would not reduce ex ante efficiency as processors can contract around damages through contract restructuring. Growers would earn less under continuation but would be protected if terminated, although overall expected profits would be unaffected. However, when contracting friction exist, then efficiency losses can occur as processors would be constrained in restructuring contractual incentives to deal with moral hazard. Growers' expected profits would increase while processors' profit would decrease.
Tipo: Journal Article Palavras-chave: Contract law; Contract regulation; Damages; Incentives; Principal-agent; Farm Management.
Ano: 2008 URL: http://purl.umn.edu/42461
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Collaterals, Bank Monitoring and Performance: the Case of Newly Established Wine Farmers AgEcon
Cadot, Julien.
This research aims at identifying the incentives associated to collaterals in an asymmetric information context and when the bank is the main financial partner of the entrepreneurs, which is typically the case for most farms and especially in the wine sector. In one hand, collaterals may reduce the risk of overinvestment by entrepreneurs and so reduce the risk of repayment default. In the other hand, to contract collaterals may lead the bank to reduce the monitoring effort. In this paper we test these two hypotheses in taking into account the fact that entrepreneurs can benefit from a banking relationship or not. Our results confirm that collaterals’ incentives depend on the bank monitoring. Moreover, this emphasizes the uniqueness of land mortgages....
Tipo: Conference Paper or Presentation Palavras-chave: Collaterals; Incentives; Bank monitoring; Agricultural Finance; G32; G33; G35.
Ano: 2011 URL: http://purl.umn.edu/103414
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COMPARATIVE ANALYSIS OF COST-EFFECTIVENESS OF CO-REGULATORY APPROACHES TO FOOD SAFETY CONTROLS AgEcon
Hussein, Mohamud; Fearne, Andrew; Martinez, Marian Garcia; Di Falco, Salvatore.
Food safety controls are currently enforced in the UK by a variety of regulatory approaches that considerably differ in their efficiency and effectiveness in achieving social goals of safe food supply and improved consumer confidence. Aim of this study is to establish whether a coregulatory enforcement of these controls is more cost-effective than the traditional command-and- control enforcement modes. First of its kind, the study reviewed a vast theoretical literature on economics of food safety and incentives to develop a conceptual framework and appropriate methodology for comparative cost-effectiveness analysis of co-regulatory approaches to food hygiene controls in the UK meat industry. A panel data on costs and compliance of 710 meat firms operating...
Tipo: Conference Paper or Presentation Palavras-chave: Cost-effectiveness; Co-regulation; Food safety; Incentives; Panel data modelling; Food Consumption/Nutrition/Food Safety; C23; K32; Q18; Q28.
Ano: 2010 URL: http://purl.umn.edu/91725
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Conservation impediments and incentives – progressing the understanding of linkages between the adoption of conservation practices and the motivational orientation of graziers in the tropical savannas AgEcon
Gregg, Daniel; Greiner, Romy.
The adoption of conservation practices is a complex matter – rural landholders consider a wide variety of factors and characteristics when deciding whether to adopt a conservation practice. To confound the issue, recent research has suggested that the goals of landholders affect the adoption of conservation practices by creating a subjective consideration of the relative importance of impediments and effectiveness of incentives in the adoption decision. In this research we describe an empirical link between graziers’ goals and their perceptions of the relative importance of impediments and the effectiveness of incentives in the adoption of conservation practices. The research was carried out in the tropical savannas region of Australia where pastoral...
Tipo: Conference Paper or Presentation Palavras-chave: Graziers; Goals; Conservation; Tropical savannas; Impediments; Incentives; Crop Production/Industries.
Ano: 2009 URL: http://purl.umn.edu/49923
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CONSERVATION OF ENDANGERED SPECIES: CAN INCENTIVES WORK FOR PRIVATE LANDOWNERS? AgEcon
Langpap, Christian.
It has been argued that the traditional regulatory approach of the Endangered Species Act, based on land-use restrictions, has failed to protect endangered species on private land. In response, there has been a call for the use of incentives to complement this regulatory approach. This paper examines the potential of incentives programs to elicit conservation-oriented management choices from landowners. Data obtained from a survey of non-industrial private forest owners in Oregon and Washington is used to examine the effectiveness of various incentives. The results indicate that incentives, in particular compensation and assurances, can be effective in increasing the conservation effort provided by landowners. The results also suggest that conservation...
Tipo: Conference Paper or Presentation Palavras-chave: Endangered species; Incentives; Regulation; Endangered Species Act; Conservation; Environmental Economics and Policy; Resource /Energy Economics and Policy; Q220; Q230; Q280; K320.
Ano: 2003 URL: http://purl.umn.edu/21972
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Contract Production of Green Peas AgEcon
Olesen, Henrik Ballebye.
This paper analyzes a contract between farmers and a large company in the Danish food industry, Danisco Foods. Production of green peas requires a very accurate coordination, which is obtained through centralized decision-making. The contract is based on a tournament system providing risk sharing between the farmers. General problems from the contract theory such as hold up, moral hazard, risk sharing and screening are analyzed. The paper illustrates the tradeoffs between these problems in design of contracts. By negotiating the contract through a pea-growers association, the farmers gain some bargaining power. Thus the farmers can ensure that Danisco Foods uses only one contract for all farmers. This paper analyzes the consequences of the farmers'...
Tipo: Working or Discussion Paper Palavras-chave: Contract theory; Coordination; Incentives; Risk sharing; Agribusiness.
Ano: 2001 URL: http://purl.umn.edu/24200
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Creating Incentives for Micro-Credit Agents to Lend to the Poor AgEcon
Aubert, Cecile; de Janvry, Alain; Sadoulet, Elisabeth.
Microfinance institutions (MFIs) have introduced incentive pay schemes for their credit agents to induce information acquisition on borrowers. Bonuses linked to repayment are efficient for profit-oriented MFIs but insufficient for nonprofit MFIs trying to reach very poor borrowers, when repayment and wealth are positively correlated. We show that no incentive scheme is consistent with this (non-verifiable) objective: Random audits on the share of very poor borrowers selected by the agent become necessary. Under the optimal contract, non-profit MFIs generally maximize the number of poor borrowers it services by crosssubsidization between very poor and less poor borrowers.
Tipo: Working or Discussion Paper Palavras-chave: Micro-credit; Pro-poor; Objectives; Incentives; Financial Economics; Food Security and Poverty; O16; D82; L31..
Ano: 2004 URL: http://purl.umn.edu/25024
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CROP DIVERSITY AS THE DERIVED OUTCOME OF FARMERS' 'SURVIVAL FIRST' MOTIVES IN ETHIOPIA: WHAT ROLE FOR ON-FARM CONSERVATION OF SORGHUM GENETIC RESOURCES? AgEcon
Wale, Edilegnaw; Virchow, Detlef.
Crop genetic resources are the building blocks of sustainable agricultural development due to their relevance not only as inputs for variety development but also as indigenous crop insurance mechanisms through traditional variety portfolio management. Their continuous survival is, however, threatened by natural and human driven factors. This threat has induced the need for designing conservation measures. Among the in situ and ex situ conservation options available to conserve crop genetic resources, on-farm conservation has recently attracted enormous attention. To make this option operational, placing incentives (that link conservation with utilization) and removal of perverse incentives are believed to be crucial so that landraces of no immediate...
Tipo: Conference Paper or Presentation Palavras-chave: On-farm conservation; Sorghum genetic resources; Incentives; Poisson regression; Ethiopia; Crop Production/Industries.
Ano: 2003 URL: http://purl.umn.edu/25882
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Czech Agricultural Associations and the Impact of Membership on Farm Efficiency AgEcon
Bavorova, Miroslava; Curtiss, Jarmila; Jelinek, Ladislav.
The study investigates the efficiency effect of affiliation with the two strongest associations in Czech agriculture. These represent large-scale enterprises and individual farmers, respectively. The efficiency analysis is supplemented by analyses of incentives for associations' membership and farm characteristics decisive for membership choice. The results imply that political lobbying is the main entry incentive. Commercially-oriented individual farms which employ external workers are more likely to choose association membership, as are agricultural enterprises that specialize in livestock production or preserve a high share of employee ownership. We find that association membership has a significant positive impact on farms' performance, especially...
Tipo: Conference Paper or Presentation Palavras-chave: Associations; Agricultural enterprises; Czech agriculture; Incentives; Individual farms; Technical efficiency; Stochastic frontier analysis; Transition; Farm Management.
Ano: 2005 URL: http://purl.umn.edu/24430
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DEA based yardstick competition in natural resource management AgEcon
Bogetoft, Peter; Nielsen, Kurt.
In this paper, we discuss the pros and cons of using Data Envelopment Analysis (DEA) to evaluate and enhance the efficiency of natural resource management. The need for a multidimensional production frontier approach is sketched, along with examples from other regulated multi-output industries, Also, reviews of the basic properties of DEA and DEA based yardstick competition are provided. Finally, we discuss the use of DEA based yardstick to evaluate bids in multi-dimensional procurement auctions.
Tipo: Conference Paper or Presentation Palavras-chave: Regulation; Incentives; Performance evaluation; Yardstick competition; Data envelopment analysis (DEA); Research Methods/ Statistical Methods; Resource /Energy Economics and Policy.
Ano: 2003 URL: http://purl.umn.edu/57928
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Economic analysis of field afforestation and forest clearance for cultivation in Finland AgEcon
Hyytiainen, Kari; Leppanen, J.; Pahkasalo, T..
Rational land use decisions of private landowners are analysed in the framework of Common Agricultural Policy and other public support schemes effective in Finland in 2003. Net present values are computed for a marginal hectare of a typical Finnish farm. Three alternative land uses are considered: traditional cultivation of oats (Avena sativa L.), cultivation of reed canary grass (Phalaris Arundinacea L.) for energy production, and production of Norway spruce (Picea abies [L.] Karst.) timber. Both arable land and forested land are considered as initial states. Experimental data from 38 afforested stands and distance-independent individual-tree stand growth model are used for computing discounted net returns from forestry. Statistics on market prices,...
Tipo: Conference Paper or Presentation Palavras-chave: Common Agricultural Policy; Energy grass; Incentives; Land use; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/44178
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Ecosystem Services Beyond Valuation, Regulation and Philanthropy: Integrating Consumer Values into the Economy AgEcon
Swallow, Stephen K.; Smith, Elizabeth C.; Uchida, Emi; Anderson, Christopher M..
Tipo: Journal Article Palavras-chave: Environmental Markets; Ecosystem Service Markets; Payment For Ecosystem Services; Incentives; Nature's Services; Resource /Energy Economics and Policy; Q20; Q57; C93; H41.
Ano: 2010 URL: http://purl.umn.edu/94656
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Enjoying a Good Port with a Clear Conscience: Geographic Indicators, Rent Seeking and Development AgEcon
Kerr, William A..
The European Union is attempting to have the protection of geographic indicators strengthened in the WTO. There may be sufficient rents and other benefits available to justify this strategy in the negotiations. To achieve its rent-seeking goals, however, the European Union needs allies at the negotiations. It has been courting developing countries by touting the benefits of geographic indicators for their products. For most products originating in developing countries, the opportunities for rents will first have to be created, a resource-intensive and problematic activity. Further, even if rents can be created in the short run, the forces of competition are likely to erode them. Scarce resources might be better utilized on other development strategies that...
Tipo: Journal Article Palavras-chave: Developing countries; Geographic indicators; Incentives; Rent seeking; Sustainable development; WTO; International Relations/Trade.
Ano: 2006 URL: http://purl.umn.edu/23827
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Estimating the economic implications for grazing properties in the Mackay Whitsunday catchments of practice changes to more sustainable landscapes AgEcon
East, Miriam.
In the Mackay Whitsunday region, the dominant grazing based operations are small intensive systems that heavily utilise soil, nutrient and chemical management practices. To improve water quality entering the Great Barrier Reef, graziers are being encouraged to adopt improved management practices. However, while there is good understanding of the management changes required to reach improved practice classification levels, there is poor understanding of the likely economic implications for a grazier seeking to move from a lower level classification to the higher level classifications. This paper provides analysis of the costs and benefits associated with adoption of intensive grazing best management practices to determine the effect on the profitability and...
Tipo: Conference Paper or Presentation Palavras-chave: Grazing; Management practices; Incentives; Mackay Whitsunday; Farm Management.
Ano: 2010 URL: http://purl.umn.edu/59070
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Externalities, Decreasing Returns, and Common Ownership AgEcon
Simpson, R. David.
Placing production units under common ownership is often suggested as a solution to the problem of externalities. This will not always be true when there are decreasing returns to scale. An atomistic industry could be more efficient than a monopoly in some instances. Even when the "optimal" industry configuration would involve a finite number of producers, no two may have appropriate incentives to combine. An omniscient and benign regulator can always assure a more efficient outcome than would result from the combination of private producers. Whether real-world regulators should be called upon, however, is less clear.
Tipo: Working or Discussion Paper Palavras-chave: Externalities; Mergers; Returns to scale; Incentives; Land Economics/Use; L23; Q24.
Ano: 2001 URL: http://purl.umn.edu/10457
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FINANCE, ORGANIZATION, AND IMPACTS OF U.S. AGRICULTURAL RESEARCH: FUTURE PROSPECTS AgEcon
Huffman, Wallace E..
The objective of this paper is to review key conceptual issues in the finance, management, and economic impact analysis of agricultural research of the U.S. and other western developed countries, to critique evidence on the impacts of R&D, to summarize new developments and emerging trends in agricultural science policy, and to speculate about the likely effect of these trends during the 21st century on impacts of R&D. The conceptual review emphasizes refinements in the theory of public goods associated with a class of impure public goods. Some overall conclusions are presented for U.S. agricultural research policy of the 21st century. Note: Figure 1 not included in file-- contact author for more information.
Tipo: Working or Discussion Paper Palavras-chave: Science policy; Agriculture; Research; Funding; Organization; Impact analysis; Incentives; Research and Development/Tech Change/Emerging Technologies.
Ano: 1999 URL: http://purl.umn.edu/18267
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