This paper develops an analytical framework which structures the problem of whether, how and to what extent small producers in developing countries are disadvantaged by the increasing prevalence of food quality standards. Based on a literature review, the empirical evidence is structured and...

In this paper we develop a theoretical model that links dynamic efficiency measurement and optimal investment under uncertainty. It is widely acknowledged that uncertainty has an impact on the optimal factor use of a profit maximizing firm. This is particularly true for the optimal adjustment of...

In this paper we analyse agricultural land prices in the German Federal State of Brandenburg within the period 2000-2011. Our objective is to understand the price formation process in foreclosures. One effect of foreclosures relates to pressured sales, which likely lead to a price discount, and...

Business-owners often postpone disinvestment decisions even when future profits are not expected to compensate for current losses. We use an experiment to study one possible behavioral motivation. Studies in psychology suggest that making decisions is stressful and, consequently, many people...

Politicians and farm lobbyists frequently use the argument that agricultural policy is necessary to safeguard jobs in agriculture. We explore whether this is true by conducting an econometric ex-post evaluation of the European Union’s Common Agricultural Policy (CAP) in the three East German...

Disinvestment, in the sense of project termination and liquidation of assets including the cession of a venture, is an important realm of entrepreneurial decision-making. This study presents the results of an experimental investigation modeling the choice to disinvest as a dynamic problem of...

This paper uses an agent-based real options approach to analyze whether stronger vertical integration reduces investment reluctance in pork production. A competitive model in which firms identify optimal investment strategies by using genetic algorithms is developed. Two production systems are...

We analyze the effects of prior gain and loss experiences on individuals’ behavior in two coordination games: battle of the sexes and simultaneous market entry. We propose subjectively transformed games that integrate elements of prospect theory, aggregation of prior and subsequent payoffs,...

This paper explains regionally differentiated patterns of structural change based on a theoretical framework dealing with strategic interaction of farms on the land market. The main research question focuses on the causes of regionally persistent structures. An empirical Markov chain model is...