Ihli, Hanna Julia; Musshoff, Oliver - Institut für Agrarökonomie, Georg-August-Universität … - 2013
behavior. However, our results suggest that real options models better predict the decision behavior of farmers than the … problem of optimal stopping, stylizing an option to invest in a project. We ascertain whether, and to what extent, the real … options approach and the classical investment theory can predict farmers’ investment behaviors. We also examine differences in …