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  • Articles  (3)
  • Latest Papers from Table of Contents or Articles in Press  (3)
  • D81 - Criteria for Decision-Making under Risk and Uncertainty, Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets  (2)
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  • 2015-2019  (3)
  • 1985-1989
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  • European Review of Agricultural Economics  (3)
  • 4699
  • Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition  (3)
  • Sociology
  • Architecture, Civil Engineering, Surveying
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  • Articles  (3)
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  • Latest Papers from Table of Contents or Articles in Press  (3)
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  • 2015-2019  (3)
  • 1985-1989
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  • Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition  (3)
  • Sociology
  • Architecture, Civil Engineering, Surveying
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  • 1
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    The analysis of irreversibility, uncertainty and dynamic technical inefficiency on the investment decision in the Spanish olive sector (2015)
    Oxford University Press
    Details
    Publication Date: 2015-12-29
    Description: This study addresses irreversible investment decision-making in the context of uncertainty when allowing for inefficiency to be transmitted over time. Both irreversibility and persistence in technical inefficiency can lead to sluggish adjustment of quasi-fixed factors of production. The context of our application is the Spanish olive sector using farm-level data. We first estimate a dynamic stochastic frontier model to determine the long-run technical efficiency and its persistence. Then we address the decision to invest under uncertainty and irreversibility using a real option approach and include the technical inefficiency and its persistence in the simulation model to evaluate their impact in the investment decision. Technical efficiency in the dynamic model is 72.7 per cent, which is 5.5 per cent lower than the static framework suggests. We find that olive grove investment is irreversible. However, the level of persistence in technical inefficiency is fairly low, suggesting that efforts to mitigate price uncertainty can improve production returns to the Spanish olive sector.
    Keywords: D81 - Criteria for Decision-Making under Risk and Uncertainty, Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    Print ISSN: 0165-1587
    Electronic ISSN: 1464-3618
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition , Economics
    Published by Oxford University Press
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  • 2
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    A comparison of hypothetical risk attitude elicitation instruments for explaining farmer crop insurance purchases (2015)
    Oxford University Press
    Details
    Publication Date: 2015-12-29
    Description: This article presents evidence on the stability and behavioural validity of alternative survey mechanisms for eliciting farmers' attitudes towards risk. Three hypothetical instruments are considered that differ in terms of the simplicity, context and payoff scale of the decision presented to respondents. Responses are assessed in terms of their relative ability to explain actual farmer crop insurance purchases. Results indicate that measures of risk attitudes are poorly correlated across alternative mechanisms. The strongest positive evidence of behavioural validity is found for the gamble task explicitly defined in the context and scale of farmers' economic activities pertaining to their insurance purchase decision.
    Keywords: D81 - Criteria for Decision-Making under Risk and Uncertainty, Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    Print ISSN: 0165-1587
    Electronic ISSN: 1464-3618
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition , Economics
    Published by Oxford University Press
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  • 3
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    Investment, technical change and efficiency: empirical evidence from German dairy production (2015)
    Oxford University Press
    Details
    Publication Date: 2015-02-06
    Description: This empirical study aims to shed light on the dynamic linkages between innovation, efficiency and productivity at the individual farm level. We use a comprehensive dataset for dairy farms in Germany for the period 1996–2010. Based on a directional distance frontier framework and the Luenberger index, we estimate the changes in efficiency, technical change and productivity over the period considered and simultaneously investigate possible factors for technically efficient milk production at farm level. We find that investments in innovative technology indeed increase the productivity of dairy production by shifting out the production frontier. Our findings further imply that investments in innovative dairy technologies require a sufficient level of complementary education to trigger also an increase in efficiency at farm level. The quality of human capital in terms of educational training seems finally crucial for a lasting increase in efficiency as a result of innovation.
    Keywords: C23 - Models with Panel Data, D24 - Production ; Cost ; Capital and Total Factor Productivity ; Capacity, Q12 - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets
    Print ISSN: 0165-1587
    Electronic ISSN: 1464-3618
    Topics: Agriculture, Forestry, Horticulture, Fishery, Domestic Science, Nutrition , Economics
    Published by Oxford University Press
    Location Call Number Expected Availability
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    PAPER CURRENT
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