Technology choice under changing peanut policies

Agricultural Economics

Volumn 33, Issue 1, 2005, Pages 11-19

  Price, T Jeffrey ^a   Lamb, Marshall C ^b   Wetzstein, Michael E ^c  

^a VIRGINIA DEPARTMENT OF TRANSPORTATION   (United States)

^b NATIONAL PEANUT RESEARCH LABORATORY   (United States)

^c UNIVERSITY OF GEORGIA   (United States)

Author keywords

Marketing quotas; Price supports; Real option value; Technology adoption

Indexed keywords

AGRICULTURAL POLICY; AGRICULTURAL PRODUCTION; CROP YIELD; INVESTMENT; MARKETING; PRICE DETERMINATION;

NORTH AMERICA; UNITED STATES;

ARACHIS HYPOGAEA;

EID: 33646147738     PISSN: 01695150     EISSN: 15740862     Source Type: Journal    
DOI: 10.1111/j.1574-0862.2005.00233.x     Document Type: Article

References (19)

1. Babcock B. A. 1990. Acreage decisions under marketing quotas and yield uncertainty. Am. J. Agric. Econ. 72, 958 965.
2. Balmann A. Mußhoff O. 2002. Real options and competition: the impact of depreciation and reinvestment. Sixth Annual International Conference on Real Options: Theory Meets Practice, July 2002, Coral Beach, Paphos, Cyprus.
3. Borges R. B. Thurman W. N. 1994. Marketing quotas and random yields: marginal effects of inframarginal subsidies on peanut supply. Am. J. Agric. Econ. 76, 809 817.
4. Dixit A. K. Pindyck R. S. 1994. Investment Under Uncertainty. Princeton University Press, Princeton, NJ.
5. Ekboir J. M. 1997. Technical change and irreversible investment under risk. Agric. Econ. 16, 55 65.
6. Fraser R. W. 1986. Uncertainty and production quotas. Econ. Rec. 62, 338 342.
7. Givan W. Shurley D. 1999. Crop Enterprise Cost Analysis. Cooperative Extension Service, Department of Agricultural and Applied Economics, University of Georgia, Athens.
8. Hamilton J. D. 1994. Time Series Analysis. Princeton University Press, Princeton, NJ.
9. Maung A. Foster K. 2002. Capital investment under alternative marketing scenarios in the hog industry: a real option approach. Can. J. Agric. Econ. 50, 223 235.
10. Miller B. R. Mabbs-Zeno C. 1992. Estimates of government intervention levels in U.S. peanut markets. South. J. Agric. Econ. 25, 153 162.
11. Pietola K. Myers R. J. 2000. Investment under uncertainty and dynamic adjustment in the Finnish pork industry. Am. J. Agric. Econ. 82, 956 967.
12. Pietola K. Wang H. H. 2000. The value of price- and quantity-fixing contracts for piglets in Finland. Eur. Rev. Agric. Econ. 27, 431 447.
13. Price T. J. Wetzstein M. E. 1999. Irreversible investment decisions in perennial crops with yield and price uncertainty. J. Agric. Res. Econ. 24, 173 185.
14. Price T. J. 1999. Marketing Quotas, Production Uncertainty, and Irreversible Investment. PhD. Dissertation, University of Georgia, Athens.
15. Purvis A. Boggess W. G. Moss C. B. Holt J. 1995. Technology adoption decisions under irreversibility and uncertainty: an ex ante approach. Am. J. Agric. Econ. 77, 541 551.
16. Rucker R. R. Thurman W. N. 1990. The economic effects of supply controls: the simple analytics of the U.S. peanut program. J. Law Econ. 33, 483 515.
17. Teisberg E. O. 1993. Capital investments strategies under uncertain regulation. Rand J. Econ. 24, 591 604.
18. Trigeorgis L. 1999. Real Options: Managerial Flexibility and Strategy in Resource Allocation. MIT Press, Cambridge, MA.
19. Turvey C. G. 2001. Mycogen as a case study in real options. Rev. Agric. Econ. 23, 243 264.