Traditionally, the analysis of regional economic convergence is based on the notions of β-convergence and Å“É-convergence. However, both of these approaches have several drawbacks and limitations. To overcome these difficulties, we apply a more recent non-parametric approach in...

In the European Union homogenous inflation forces are expected to prevail due to the increased economic integration, especially after the creation of the single currency area. This expectation is directly related to the issue of inflation convergence which has gained increasing attention by both...

Latest developments in investment analysis offer a number of valuable insights into how to evaluate investment opportunities encountering the weaknesses of net present value criterion. More specific, irreversibility, uncertainty and the choice of timing are conditions that net present value does...

Traditional net present value methods used to evaluate potential projects make no allowance for flexibility and assume a static environment. The concept of real options has extended into irrigation systems to model design flexibility in the realistically uncertain environment. In particular,...

Drawing upon a comparative case study of organic and conventional farming in Western Greece, the aim of this study is threefold: firstly, to explore the organic and conventional farmers’ profile through a factor analysis. Secondly, to assess the economic viability of organic cultivation with...

New policy measures have been introduced to transform Greece’s agriculture into a more modern and environmentally friendly agriculture. Adopting new technology and environmentally friendly production systems involves risk and uncertainty, which in turn stress the need for well designed policy...

Organic farming has experienced a vast increase within the EU, despite the fact that it implies greater risk and uncertainty than that of conventional farming. This is the result of the increased environmental concern and the rising demand for quality food, which led to the implementation of the...

The adoption of organic agriculture or livestock involves risk and uncertainty, and to overcome this, well designed schemes are required. Are the current support measures attractive for farmers who wish to convert to organic? At first, this study tries to assess the optimal investment trigger...

After the introduction of the new tobacco regime, many regions in Greece, formerly specialized in tobacco cultivation, are now facing serious threats of economic and social decline. Sheep farming is considered by many analysts as a viable alternative to tobacco. This study analyses the financial...

The relationship between farm production costs, producer prices and retail food prices is frequently the subject of research. This study examines the existence of cointegrating relationships between the above variables and their direction of causality. Data used refer to price indices of farm...