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Real Options Approach And Stochastic Programming In Farm Level Analysis: The Case Of Short-Rotation Coppice Cultivation

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  • Kostrova, Alisa
  • Britz, Wolfgang
  • Finger, Robert
  • Djanibekov, Utkur

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  • Kostrova, Alisa & Britz, Wolfgang & Finger, Robert & Djanibekov, Utkur, 2016. "Real Options Approach And Stochastic Programming In Farm Level Analysis: The Case Of Short-Rotation Coppice Cultivation," 56th Annual Conference, Bonn, Germany, September 28-30, 2016 244864, German Association of Agricultural Economists (GEWISOLA).
    • Handle: RePEc:ags:gewi16:244864
    DOI: 10.22004/ag.econ.244864
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    2. Lo, Andrew W & Wang, Jiang, 1995. "Implementing Option Pricing Models When Asset Returns Are Predictable," Journal of Finance, American Finance Association, vol. 50(1), pages 87-129, March.
    3. Simoglou, Christos K. & Kardakos, Evaggelos G. & Bakirtzis, Emmanouil A. & Chatzigiannis, Dimitris I. & Vagropoulos, Stylianos I. & Ntomaris, Andreas V. & Biskas, Pandelis N. & Gigantidou, Antiopi & T, 2014. "An advanced model for the efficient and reliable short-term operation of insular electricity networks with high renewable energy sources penetration," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 415-427.
    4. Gjolberg, Ole & Guttormsen, Atle G., 2002. "Real options in the forest: what if prices are mean-reverting?," Forest Policy and Economics, Elsevier, vol. 4(1), pages 13-20, May.
    5. Alonso-Ayuso, Antonio & Carvallo, Felipe & Escudero, Laureano F. & Guignard, Monique & Pi, Jiaxing & Puranmalka, Raghav & Weintraub, Andrés, 2014. "Medium range optimization of copper extraction planning under uncertainty in future copper prices," European Journal of Operational Research, Elsevier, vol. 233(3), pages 711-726.
    6. Tareen, Irfan Y. & Wetzstein, Michael E. & Duffield, James A., 2000. "Biodiesel As A Substitute For Petroleum Diesel In A Stochastic Environment," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 32(2), pages 1-9, August.
    7. Robert S. Pindyck, 1999. "The Long-Run Evolutions of Energy Prices," The Energy Journal, International Association for Energy Economics, vol. 0(Number 2), pages 1-27.
    8. Metcalf, Gilbert E. & Hassett, Kevin A., 1995. "Investment under alternative return assumptions Comparing random walks and mean reversion," Journal of Economic Dynamics and Control, Elsevier, vol. 19(8), pages 1471-1488, November.
    9. Elisa Nicolato & Emmanouil Venardos, 2003. "Option Pricing in Stochastic Volatility Models of the Ornstein‐Uhlenbeck type," Mathematical Finance, Wiley Blackwell, vol. 13(4), pages 445-466, October.
    10. Tareen, Irfan Y. & Wetzstein, Michael E. & Duffield, James A., 2000. "Biodiesel as a Substitute for Petroleum Diesel in a Stochastic Environment," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 32(2), pages 373-381, August.
    11. Feng Song & Jinhua Zhao & Scott M. Swinton, 2011. "Switching to Perennial Energy Crops Under Uncertainty and Costly Reversibility," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(3), pages 764-779.
    12. de Oliveira, Denis Luis & Brandao, Luiz E. & Igrejas, Rafael & Gomes, Leonardo Lima, 2014. "Switching outputs in a bioenergy cogeneration project: A real options approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 36(C), pages 74-82.
    13. Kallio, Markku & Kuula, Markku & Oinonen, Sami, 2012. "Real options valuation of forest plantation investments in Brazil," European Journal of Operational Research, Elsevier, vol. 217(2), pages 428-438.
    14. Murto, Pauli & Nese, Gjermund, 2002. "Input price risk and optimal timing of energy investment: choice between fossil- and biofuels," Working Papers in Economics 15/02, University of Bergen, Department of Economics.
    15. Gregory E. Frey & D. Evan Mercer & Frederick W. Cubbage & Robert C. Abt, 2013. "A real options model to assess the role of flexibility in forestry and agroforestry adoption and disadoption in the Lower Mississippi Alluvial Valley," Agricultural Economics, International Association of Agricultural Economists, vol. 44(1), pages 73-91, January.
    16. Guthrie, Graeme, 2009. "Real Options in Theory and Practice," OUP Catalogue, Oxford University Press, number 9780195380637.
    17. Di Corato, Luca & Gazheli, Ardjan & Lagerkvist, Carl-Johan, 2013. "Investing in energy forestry under uncertainty," Forest Policy and Economics, Elsevier, vol. 34(C), pages 56-64.
    18. Malcolm P. Baker & E. Scott Mayfield & John E. Parsons, 1998. "Alternative Models of Uncertain Commodity Prices for Use with Modern Asset Pricing Methods," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 115-148.
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    Research Methods/Statistical Methods; Risk and Uncertainty;

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