The continuous decline of commercial agricultural areas accompanied by a trend toward larger farms has increased competition for a scarce production factor in Germany: land. From 2000 to 2013, the purchase prices of agricultural land increased by 80 percent, according to the German Federal...

Analyzing the dynamics of structural change of an industry is a fundamental but challenging issue in economics. Accordingly, many attempts have been made to rationalize entry and exit decisions of firms, which, in total, appear as structural change of a sector. Among the most often hypothesized...

We analyze farmland prices in the German federal state of Brandenburg from 2000 to 2011 with the aim to understand the price formation process in farmland foreclosures. Pressured sales usually result in a price discount due to time constraints; however, the land is sold using public auctions....

This paper examines the impact of technical efficiency on the optimal exit timing of farms in a stochastic dynamic framework. Starting from a standard real options approach, we incorporate technical efficiency via a production function and derive an optimal price trigger at which farms...

Numerous studies have tried to provide a better understanding of firm-level investment behaviour using econometric models. The model specification of more recent studies has been based on two main approaches. The first, the real options approach, focuses on irreversibility and uncertainty in...

Low investment rates are a puzzling phenomenon particularly in transition economies with an urgent need for modernisation. The literature offers two alternative explanations: imperfect capital markets and investment reluctance due to real options effects. In this paper, we develop a generalised...

Nach einem drastischen Einbruch im vergangenen Jahr ziehen die Milchpreise wieder an. Doch auch künftig kann es zu Preiseinbrüchen in der Milchwirtschaft kommen. Zum einen wirken sich im Zuge der fortschreitenden Liberalisierung der Agrarmärkte internationale Marktentwicklungen verstärkt auf...

From an analysis of the available national allocation plans for the first period (2005-2007) of the EU emissions trading scheme (EU ETS), it can be inferred that (i) the total allocation to installations covered under the EU ETS is rather generous and (ii) most EU Member States ban the transfer...

In this paper, we analyze the technical efficiency of CO2 reduction potentials of German power and heat plants, using a non-parametric sequential Data Envelopment Analysis. We apply a metafrontier framework to evaluate plant-level efficiencies in the transformation of inputs into desirable...

Mehr als 1600 Verteilnetzbetreiber versorgen deutsche Haushalte mit Strom und Gas. Dabei handelt es sich um »natürliche Monopole«, d.h. es gibt keinen direkten Wettbewerb zwischen den Unternehmen, sondern werden sie durch die Bundesnetzagentur im Anreizregulierungsverfahren reguliert....