This paper aims to examine the relationship between soil quality and farmland prices over time. Soil quality is often used as an explanatory variable for farmland prices in hedonic price models. However, the agricultural land market has shown an enormous price increase over the last decade....

Claiming analogy with financial option pricing the real options approach assumes that the present value of investment cash flows (or: real asset value) can be replicated by a risk-free financial portfolio; that is, this present value is considered to be equivalent to an asset value in a complete...

Low investment rates are a puzzling phenomenon particularly in transition economies with an urgent need for modernisation. The literature offers two alternative explanations: imperfect capital markets and investment reluctance due to real options effects. In this paper, we develop a generalised...

In the African Sahel region, arable land is being increasingly threatened by the implications of climate change. Agroforestry offers opportunities to adapt to these challenges by enhancing ecological resilience and food production through intensification and/or diversification by integrating...

Die Bedeutung des Wetters als Risikofaktor in der Landwirtschaft ist seit langem bekannt. Zur Reduzierung wetterbedingter Risiken wurden in den letzten Jahren insbesondere Ertragsausfallversicherungen diskutiert. Ein relativ neues Instrument zur Steuerung des Mengenrisikos stellen sog....