Dynamic programming is the essential tool in dynamic economic analysis. Problems such as portfolio allocation for individuals and optimal economic growth are typical examples. Numerical methods typically approximate the value function. Recent work has focused on making numerical methods more...

Water is a key input to agricultural production and therefore fluctuations in water availability may impact agricultural productivity and revenue. Climate science tells us that most of these fluctuations are increasingly resulting from intra-year, instead of interyearly, shifts in the timing and...

In this paper we explore whether the incorporation of systematic time series analyses and mathematical optimization procedures in the practical planning process has the potential to improve production program decisions. The cases of four German cash crop farms are investigated over six planning...

Although the policy impacts on farms accumulate year by year, most farm decision models focus on short-term decisions, evaluating policies based on snapshots. Structural changes are gradually built; therefore, farm decision models should consider the sequences within the period under study....

Legumes, which currently show low production levels in the European Union, can reduce negative environmental externalities of agricultural systems by lowering nitrogen (N) fertilization and increasing protein self-sufficiency. This has led to the introduction of coupled support in France, in...