Since the seminal work of Adam Smith, markets have been considered an efficienttool for co-ordinating the behaviour of economic agents. The basic characteristicof a market economy is that the complex system of interaction amongindividuals is not centrally coordinated. Under the assumption of...

Since the seminal work of Adam Smith, markets have been considered an efficient tool for co-ordinating the behaviour of economic agents. The basic characteristic of a market economy is that the complex system of interaction among individuals is not centrally coordinated. Under the assumption of...

This presentation provides comparative analysis of agricultural holdings in Estonia based on the Farm Accountancy Data Network (FADN) data. The FADN data for reference years 2000, 2001, 2002 and 2003 have been analysed. The FADN data analyses showed, that there are very big differences in the...

This article solves and characterizes optimal decision rules to invest in irreversible land improvements conditional on land tenure insecurity. Economic model is a normative dynamic programming model with known parameters for the one period returns and transition equations. The optimal decision...

The paper presents an application of the new version of the 'Decision Support for Irrigated agriculture' DSIrr designed to integrate water and agricultural policy analysis and to support participatory decision process. The tool is a scenario manager for bio-economic farm models considering...

Due to economic and population growth farmland and to a lesser extend other undeveloped areas are under pressure in the urban-rural fringe in British Columbia, Canada. The objectives of this paper are to determine if residential property values near Victoria, BC include open-space premiums for...

We review the constant discount rate present value model of farmland prices using non-stationary panel data analysis. We use panel unit root and cointegration analysis to test if the present value model holds for a sample of 31 U.S. States covering the period 1960-2000. Preliminary results...

The objective of this paper is to provide an analysis of the sustainability of irrigated agriculture in Italy in the context of CAP reform and Water Framework Directive. The work combines scenario analysis, multicriteria mathematical programming simulation models and economic, social and...

Under the Spanish conservation law, compensation is envisaged for the damage associated with all actions that reduce the quantity or quality of protected areas and species. This paper provides a tool to evaluate the monetary equivalent of this damage. We conduct a contingent valuation exercise...