Investment Under Uncertainty And Dynamic Adjustment In Finnish Pork Industry
AbstractA dynamic dual model of investment under uncertainty is applied to a panel of Finnish hog farms. Stochastic dynamic programming is used to characterize duality relations. The model accommodates irreversibility and/or asymmetric adjustment costs. Results have important implications for Finland's hog industry as it adjusts to entry into the European Unit.
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Bibliographic InfoPaper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 1998 Annual meeting, August 2-5, Salt Lake City, UT with number 20953.
Date of creation: 1998
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Livestock Production/Industries; Research Methods/ Statistical Methods; Risk and Uncertainty;
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