A crucial aspect of empirical research based on ARIMA(p,q) model is the choice of the appropriate lag order. Several criteria have been used in order to identify the appropriate order of a ARIMA(p,q) process. In this paper we investigate the effects of using a variation of selection criteria...

The paper demonstrates how a deterministic farm linear programming (LP) model can be made stochastic and simulated using Solver and Simetar© in Excel©. The demonstration is conducted with an LP-model for a dairy farm for a sub arctic region of Norway. The income risks arising from variation in...

The article examines the market and welfare effects of the current CAP reform and further policy options on the EU dairy market. The main focus is the influence of unstable world markets and the uncertainty it generates in policy analysis which has been widely neglected. The simulations of a...

Investments in large scale logistical infrastructure are significant and they require a long time and as such good forecasts play an important part. In this research, we combine advanced forecasting methods with system dynamics to study the development of Finnish sea ports. We use regression and...

Despite a large number of studies that examine the influence of biofuels and biofuel policy on commodity prices, the impact of biofuel policy on commodity price variability is poorly understood. A good understanding of biofuel policy’s impact on price variability is important for mitigating...

Interactions among competing units are crucial to maintaining biodiversity, and non-hierarchical interactions can promote biodiversity in cyclic competing systems. In the present study, we explore the role of hierarchical interactions, existing ubiquitously in reality, in the co-evolution of a...