INVESTMENT UNDER UNCERTAINTY AND DYNAMIC ADJUSTMENT IN FINNISH PORK INDUSTRY

A dynamic dual model of investment under uncertainty is applied to a panel of Finnish hog farms. Stochastic dynamic programming is used to characterize duality relations. The model accommodates irreversibility and/or asymmetric adjustment costs. Results have important implications for Finland's hog industry as it adjusts to entry into the European Unit.

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Year of publication:	1998
Authors:	Pietola, Kyosti ; Myers, Robert J.
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Livestock Production/Industries \| Research Methods/ Statistical Methods \| Risk and Uncertainty

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Extent:	application/pdf
Series:	1998 Annual meeting, August 2-5, Salt Lake City, UT.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 1998 Annual meeting, August 2-5, Salt Lake City, UT Number 20953
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005807291