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Harvest Cost and Value of Citrus Operations with Alternative Technology: Real Options Approach


  • Iwai, Nobuyuki
  • Emerson, Robert D.
  • Roka, Fritz M.


The prospect of immigration policy reform has renewed growers’ concerns of serious labor shortages and cost increases. These concerns are more serious for specialty crop agriculture, not only because it is highly labor intensive, but also it requires labor in a very short period, particularly at harvest time. Two representative approaches of the investment valuation have been applied to the case of harvesting mechanization for the model citrus grower in Florida. Specifically, we applied the NPV approach and the real options approach (ROA) to processed-market Hamlin orange operations in Southwest Florida.

Suggested Citation

  • Iwai, Nobuyuki & Emerson, Robert D. & Roka, Fritz M., 2009. "Harvest Cost and Value of Citrus Operations with Alternative Technology: Real Options Approach," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49942, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea09:49942

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    References listed on IDEAS

    1. J. Edward Taylor, 1992. "Earnings and Mobility of Legal and Illegal Immigrant Workers in Agriculture," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(4), pages 889-896.
    2. Iwai, Nobuyuki & Emerson, Robert D. & Roka, Fritz M., 2009. "Labor Cost and Value of Citrus Operations with Alternative Technology: Enterprise DCF Approach," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46836, Southern Agricultural Economics Association.
    3. Emerson, Robert D., 2007. "Agricultural Labor Markets and Immigration," Choices, Agricultural and Applied Economics Association, vol. 22(1).
    4. repec:cdl:agrebk:677103 is not listed on IDEAS
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    More about this item


    Real options; NPV; mechanization; immigration policy; harvest cost; citrus operations; Agribusiness; Agricultural Finance; Farm Management; Labor and Human Capital; Risk and Uncertainty; Q14 – Agricultural Finance; J43 – Agricultural Labor Markets;

    JEL classification:

    • Q14 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Finance
    • J43 - Labor and Demographic Economics - - Particular Labor Markets - - - Agricultural Labor Markets

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