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| Registros recuperados: 58 | |
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| Morgan, Don G.; British Columbia Ministry of Forests and Range; Don.Morgan@gov.bc.ca. |
| Uncertainty is a dominant feature of decision making in forestry and wildlife management. Aggravating this challenge is the irreversibility of some decisions, resulting in the loss of economic opportunities or the extirpation of wildlife populations. We adapted the real options approach from economic theory to develop a methodology to evaluate a resource management decision to stop timber harvesting when a woodland caribou (Rangifer tarandus caribou) population becomes threatened with extinction. In our study area of central Labrador, Canada, both caribou and timber harvesting are valued ecosystem services. By using a decision rule, which incorporates future developments, the real options approach provides a technique to incorporate ecological and social... |
| Tipo: Peer-Reviewed Reports |
Palavras-chave: Decision support; Real options; Forest planning; Wildlife management; Caribou; Labrador. |
| Ano: 2008 |
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| Seyoum, Emayenesh; Chan, Chris. |
| This paper reports a use of a real-options valuation methodology to analyse wine grape farm investment under price and yield uncertainty. Revenue levels to incentivise entry and exit were calculated for three different sizes of wine grape farms in North West Victoria. The modelling identified lower exit and higher entry triggers than indicated by conventional net present value calculation. The wide gap of estimated indeterminacy in farm investment highlights the intertwined influence of numerous economic factors — cost structure, economies of scale, market volatility, transaction costs, and sunk and salvaged asset valuation. Drawing on these determinants of farm investment and disinvestment, the paper discusses the role of investment incentives in... |
| Tipo: Presentation |
Palavras-chave: Real options; Entry and exit; Wine grape; North West Victoria; Crop Production/Industries. |
| Ano: 2012 |
URL: http://purl.umn.edu/124446 |
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| Erbas,Bahar Celikkol; Memis,Selin Arslanhan. |
| Background: Biotechnology complements technological developments in main sectors of economies, such as health, energy, and agriculture, and thus contributes to economic development. It provides solutions to the problems that are frequently faced in developing economies, such as resource constraints, lower productivity and environmental concerns. In order to benefit from biotechnology, its associated markets need to develop and function well to support the developments and transactions of intangible assets, such as technology transfers, license agreements and research and development joint ventures. Economic valuation of the intangible assets is necessary for the development and functioning of these markets. It provides better understanding of value... |
| Tipo: Journal article |
Palavras-chave: Biotechnology sector; Developing economies; Real options; R&D project valuation; Turkey. |
| Ano: 2012 |
URL: http://www.scielo.cl/scielo.php?script=sci_arttext&pid=S0717-34582012000300001 |
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| Towe, Charles A.; Nickerson, Cynthia J.; Bockstael, Nancy E.. |
| Many studies have examined the effects of land use regulations on land prices and urban spatial form. Increasingly, jurisdictions have adopted incentive based mechanisms, such as purchase of development rights (PDR) programs, to manage the pace and pattern of urban growth and the conversion of agricultural land. PDR programs provide a third option to landowners in urbanizing areas: in addition to deciding whether to develop or not, landowners can decide whether to preserve their land. To our knowledge no studies have explored how the existence of an option to participate in a PDR program affects landowners' development decisions. This research provides empirical evidence of a previously untested prediction of real options theory: that additional... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural preservation programs; Real options; Land conversion; Land Economics/Use. |
| Ano: 2005 |
URL: http://purl.umn.edu/19125 |
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| Odening, Martin; Musshoff, Oliver; Utesch, Volker. |
| The objective of this paper is to explore the potential of the real options approach for analyzing farmers’ choice to switch from conventional to organic farming. Understanding the determinants of this decision is relevant in particular for agricultural policy makers when predicting the response of farmers to support programs. After a brief review of the existing literature on barriers to the adoption of organic farming a theoretical model is presented that allows one to incorporate two main features of the adoption decision, namely irreversibility and uncertainty of the returns. The real options model quantifies investment multiples that trigger the adoption of organic farming. Compared with neoclassical models it suggests an inertia of the respective... |
| Tipo: Journal Article |
Palavras-chave: Organic farming; Real options; Switching regression; Hysteresis; Farm Management. |
| Ano: 2004 |
URL: http://purl.umn.edu/97451 |
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| Amponsah, William A.; Ofori-Boadu, Victor. |
| A gravity model using panel data is applied to determine factors affecting textiles and apparel trade flows into the United States. The study confirms that a nation's aggregate output and per unit productivity serve as important determinants of textiles and apparel trade into the U.S., and the exporting country's depreciating exchange rate as well as its lower prices relative to U.S. prices for textiles and apparel play an important role in determining textiles and apparel trade flows to the U.S. market. Since the WTO's multilateral trade restraining policies of the multi-fibre arrangement (MFA) is found to have slowed down imports, its abrogation in 2005 should lead to greater textiles and apparel imports to the U.S. |
| Tipo: Journal Article |
Palavras-chave: Brand equity; Brand valuation; Real options; Food firms; Growth option value; Agribusiness; International Relations/Trade. |
| Ano: 2007 |
URL: http://purl.umn.edu/8191 |
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| Rahim, Afaf H.; van Ierland, Ekko C.; Wesseler, Justus. |
| The gum tree (Acacia senegal) in the Sahel-Sudan zone has many environmental benign functions. An important function is to control desertification. In this paper we analyze farmers' economic incentives to preserve the existing gum trees and their incentives to create new plantations using a real options approach. Results indicate that agricultural crops provide higher economic benefits as compared to gum agroforestry system. However, on the one hand, as gum arabic is produced during the dry period and land is abundant, there are low incentives for deforestation. Instead, farmers' tend to leave the land idle and let the tree growing. On the other hand, our results suggest that an increase in the prices of gum arabic of about 330 per cent is needed to induce... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Gum arabic; Deforestation; Entry and exit; Real options; Sudan; Crop Production/Industries; D4; N5; O13; Q12; Q23. |
| Ano: 2006 |
URL: http://purl.umn.edu/25720 |
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| Tzouramani, Irene; Mattas, Konstadinos. |
| Latest developments in investment analysis offer a number of valuable insights into how to evaluate investment opportunities encountering the weaknesses of net present value criterion. More specific, irreversibility, uncertainty and the choice of timing are conditions that net present value does not include but they alter the investment decision in critical way. Employing contingent claims analysis in tangible investments several assumptions made by discount cash flow method are concerned and better assessment results can be derived. In this work, an attempt is made to apply real options methodology in agricultural investments. Many agricultural investors face a growing uncertainty environment with high sunk investments and net present value criterion has... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Real options; Irreversibility; Option value; Agriculture; Investment; Policy; Crop Production/Industries. |
| Ano: 2002 |
URL: http://purl.umn.edu/24835 |
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| Registros recuperados: 58 | |
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