In agriculture, long-term decisions are usually made in an environment which is almost completely dynamic. For example, uncertainty arises from weather and climatic conditions. (Dis)investment in irrigation technology on farms has become more prominent over the past decade. The use of irrigation...

Viele Untersuchungen zur Quantifizierung der individuellen Risikoeinstellung von Probanden zeigen, dass verschiedene Methoden zur Messung der Risikoeinstellung zu unterschiedlichen Ergebnissen führen können. Zusätzliche Zweifel bezüglich der Zuverlässigkeit der Ergebnisse resultieren...

Der Agrarstrukturwandel ist mit Anpassungsprozessen verbunden, die oftmals mit größten-teils fremdfinanzierten Investitionen einhergehen. Eine Folge davon sind sinkende Eigenkapi-talquoten in landwirtschaftlichen Betrieben. Somit ist zu erwarten, dass die Bedeutung der finanziellen...

Bei der Abschätzung der Folgen verhaltenssteuernder politischer Maßnahmen mit Hilfe von Rational- Choice-Modellen, die von der Verhaltensannahme eines vollständig informierten und ausschließlich gewinnmaximierenden homo oeconomicus ausgehen, besteht die Gefahr, dass Art und Geschwindigkeit...

Both rising competition for water resources and increasing environmental concerns have placed the need for an enhanced water resources management on the policy agenda. However, a stricter regulation of irrigation water tends to result in declining farm income and arising risk exposure. With this...

type="main" xml:id="ajar620-abs-0001" <p>Many studies quantifying individual risk preferences of test persons show that results of different measuring methods may vary. Additional reservations about the reliability of the results regarding the risk attitude measurement arise from the fact that most...</p>

type="main" xml:id="ajar12028-abs-0001" <p>In this article, we analyse the (dis)investment behaviour of farmers in a within-subject designed experiment. We ascertain whether, and to what extent, the real options approach (ROA) and the classical investment theory can predict farmers' (dis)investment...</p>

The German government is planning to increase the share of renewable energy sources. In this context, it is important to understand the decision-making behaviour of farmers regarding investments in renewable energy systems that generate energy from biomass and farmers' reactions to...

Real Options: Concept, Methods and Applicability in Agricultural EconomicsThis paper discusses the real options approach to investment. Real options facilitate an analysis of investment under uncertainty explicitly taking into account irreversibility of the investment decision and flexibility...

Auctioning off goods is a widespread practice in the agricultural sector. The revenue equivalence theorem predicts that independent of the type of auction, the revenues are identical under fulfillment of specific conditions. One of these conditions is that bidders must be risk neutral; this...