This paper extends finance theory under risk to account for borrowing behavior under financial stress conditions. As the financial stress level for the firm increases, the role of credit or unused borrowing capacity changes. With a strong equity position, credit is valued as a reserve to avoid...

A model designed to identify preferred postharvest marketing strategies for pinto bean producers is presented. The model evaluates flexible strategies that use current market information to determine whether or not storage should continue. Explicit consideration is given to price uncertainty and...