Preferencje help
Widoczny [Schowaj] Abstrakt
Liczba wyników
2013 | 14(XIV) | nr 1 | 253--264
Tytuł artykułu

Real Options for Agricultural Investments

Treść / Zawartość
Warianty tytułu
Języki publikacji
We present an overview of the real options methodology and its applications in agricultural decision making. We examine the current state of research on real options in agriculture as well as propose a range of possible extensions and further applications of diverse types of real options in agricultural investments and their policy implications. (original abstract)
  • ISCTE Business School- University Institute of Lisbon, Portugal
  • Independent Scholar, Travessa das Águas Livres 25 RC/E
  • Black F., Scholes M. (1973) The pricing of options and corporate liabilities. Journal of Political Economy, 81, pp. 637-54.
  • Bose S., Oh K.-B. (2003) An empirical evaluation of option pricing in intellectual capital. Journal of Intellectual Capital, 4, pp. 282-96.
  • Childs P., Triantis A. (1999) Dynamic r&d investment policies. Management Science, 45, pp. 1359-77.
  • Dixit A., Pindyck R. (1994) Investment under Uncertainty. Princeton University Press.
  • Fenichel E.P., Tsao J.I., Jones M.L., Hickling G.J. (2008). Real options for precautionary fisheries management. Fish and Fisheries, 9, pp. 121-137.
  • Huchzermeier A., Loch C. (2001) Project management under risk: using the real options approach to evaluate flexibility in r&d. Management Science, 47, pp. 85-101.
  • Khanna M., Isik M., Winter-Nelson A. (2000) Investment in site-specific crop management under uncertainty: implications for nitrogen pollution control and environ- mental policy. Agricultural Economics, 24, pp. 9-21.
  • Kossovsky N. (2002) Fair value of intellectual property: an options-based valuation of nearly 8000 intellectual property assets. Journal of Intellectual Capital, 3, pp. 62-70.
  • Kuminoff N.V., Wossink A. (2005) Valuing the option to convert from conventional to organic farming. In No 19531, 2005 Annual meeting, July 24-27, Providence, RI of the American Agricultural Economics Association.
  • Laxman P.R., Aggarwal S. (2003) Patent valuation using real options. IIMB Management Review, 15, pp. 44-51.
  • Luong Q.V., Tauer L.W. (2006) A real options analysis of coffee planting in Vietnam. Agricultural Economics, 35, pp. 49-57.
  • Mbah M.L.N., Forster G.A., Wesseler J.H., Gilligan C.A. (2010) Economically optimal timing for crop disease control under uncertainty: an options approach. Journal of the Royal Society Interface, 7, pp. 1421-28.
  • Ming-Cheng W., Chun-Yao T. (2006) Valuation of patent a real options perspective. Applied Economics Letters, 13, pp. 313-18.
  • Mun J. (2006) Real option analysis. New Jersey: Wiley & Sons.
  • Musshoff O. (2012) Growing short rotation coppice on agricultural land in Germany: A real options approach. Biomass and Bioenergy, 41, pp. 73-85.
  • Myers S. C. (1987) Finance theory and financial strategy. Midland Corporate Finance Journal, 5, pp. 6-13.
  • Odening M., Musshoff O., Balmann A. (2005) Investment decisions in hog finishing: an application of the real options approach. Agricultural Economics, 32, pp. 47-60.
  • Pindyck S. (1991) Irreversibility, uncertainty and investment. Journal of Economic Literature, 29, pp. 1110-48.
  • Price T.J., Wetzstein M.E. (1999) Irreversible investment decisions in perennial crops with yield and price uncertainty. Journal of Agricultural and Resource Economics,24, pp. 173-85.
  • Purvis A., Boggess W.G., Moss C.B., Holt J. (1995) Technology adoption decisions under irreversibility and uncertainty: an ex ante approach. American Journal of Agricultural Economics, 77, pp. 541-51.
  • Saphores J.-D.M. (2000) The economic threshold with a stochastic pest population: a real options approach. American Journal of Agricultural Economics, 82, pp. 541-55.
  • Tegene A., Wiebe K., Kuhn B. (1999) Irreversible investment under uncertainty: conservation easements and the option to develop agricultural land. Journal of Agricultural Economics, 50, pp. 203-19.
  • Trigeorgis L. (1996) Real options: managerial flexibility and strategy in resource allocation. Cambridge: MIT Press.
  • Tzouramani I., Mattas K. (2004) Employing real options methodology in agricultural investments: the case of greenhouse construction. Aplpied Economics Letters, 11, pp. 355-59.
  • Winter-Nelson A., Amegbeto K. (1998) Option values to conservation and agricultural price policy: application to terrace construction in Kenya. American Journal of Agricultural Economics, 80, pp. 409-18.
Typ dokumentu
Identyfikator YADDA

Zgłoszenie zostało wysłane

Zgłoszenie zostało wysłane

Musisz być zalogowany aby pisać komentarze.
JavaScript jest wyłączony w Twojej przeglądarce internetowej. Włącz go, a następnie odśwież stronę, aby móc w pełni z niej korzystać.