Kazakhstan and Germany have different development levels of the agricultural sectors. One of the explanations for this … fact might be the different investment behavior of farmers in the two countries. We experimentally analyze whether the … investment behavior of farmers is consistent with the normative benchmarks of the net present value criterion or the real options …

CLASSICAL INVESTMENT THEORY AND THE REAL OPTIONS APPROACH Abstract This study analyzes the explanatory potential of the real … compares the valuation of the ROA with that of the classical investment criterion such as the net present value (NPV). A … further objective is to analyze the sensitivity of investment triggers with respect to assumed stochastic processe... …

investment timings. Players choose when to invest in a nonrival project with uncertain returns. The earliest investor bears the … costs of investment and all players learn whether the project is of good or bad quality. Informational externalities create … free-riding incentives resulting in strategic delays in investment timings. Our theoretical analysis suggests that …

classical investment theory. The presence of a price floor and learning from personal experience during the experiment do not … options approach and the classical investment theory can predict farmers’ investment behaviors. We also examine differences in …In this study, we experimentally analyze the investment behavior of smallholder farmers in Uganda. We consider a …