Lambarraa, Fatima; Stefanou, Spiro E.; Gil, Jose Maria - International Association of Agricultural Economists - IAAE - 2009
The purpose of this paper is the evaluation of the investment decision under uncertainty and irreversibility allowing for long run inefficiency. The analysis has been applied to a 158 Spanish olive farms using FADN data set. A real option approach has been used to analyse the decision to invest...