INVESTMENT UNDER UNCERTAINTY AND DYNAMIC ADJUSTMENT IN FINNISH PORK INDUSTRY

A 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.


Issue Date:
1998
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/20953
Total Pages:
15
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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