LAND VALUES AND ENVIRONMENTAL REGULATION

Environmental Economics and Policy, Land Economics/Use,

A Decision Model For The Estate Management Problem

The legal notices of any daily newspaper attest to a problem that confronts almost every member of society, the problem of transferring property between generations at death. Contrary to common\u27belief, the division of property among one\u27s heirs is not predetermined or imposed, but can be significantly influenced with proper planning. Serious economic losses and family arguments can be avoided with foreward planning. However, planning for the transfer of property between generations requires the systematic evaluation of how adequately alternative legal and financial tools satisfy specified estate management goals

The increasing multifunctionality of Agricultural Raw Materials: Three dilemmas for Innovation and Adoption

Agricultural raw materials are increasingly being used for multiple industries or sectors beyond the traditional fiber and nutrition industries: energy in the form of ethanol and biodiesel, industrial products such as polymers and bio-based synthetic chemicals and fibers, and pharmaceutical/health products such as functional foods, growth hormones and organ transplants. A combination of the new science of biotechnology, the new potential end uses of the products of that science and the broadened social/public goals that these products can respond to surfaces at least three fundamental challenges or dilemmas: (1) the competing goals dilemma, (2) the incumbent vs. new entrant competition dilemma, and (3) the industry boundaries dilemma. This paper reviews the innovation and adoption research related to renewables and the bio-economy, and then frames the three dilemmas with the objective of identifying important research issues and the conceptual frameworks that might be useful to analyze these issues

The Innovation Process: Practices in Food and Agribusiness Companies

Agribusiness,

Future Agribusiness Challenges: Strategic Uncertainty, Innovation and Structural Change

The global food and agribusiness industry is in the midst of major changes, and the pace of change seems to be increasing. These changes suggest three fundamental critical future issues for the sector: 1) decisions must be made in an environment of increasing risk and uncertainty, 2) developing and adopting technology and new innovations is critical to long-term financial suc-cess, and 3) responding to changes in industry structure and the competitor landscape and indus-try boundaries is essential to maintain market position. The focus of this paper is the synopsis and application of conceptual/theoretical frameworks that can be used in managerial decision making and analyzing the implications and consequences of strategic uncertainty, innovation and changing industry structur

How much do farmers value their independence?

A farmer's decision to contract or produce independently depends on the distribution of income and the nonpecuniary attributes associated with both business arrangements. The benefits to growers from contracting (such as risk reduction) may be overestimated if the nonpecuniary benefits enjoyed by independent producers (such as the right to make management decisions and own the commodity produced) are not accounted for. This study uses data from a U.S. national survey of hog producers to estimate (1) the difference in expected net returns between contracting and independent production, (2) the premium a representative farmer would pay for the risk reduction provided by a contract, and (3) the premium a farmer would pay for the nonpecuniary benefits associated with independent production. Results indicate that growers have a strong preference for autonomy-with moderately risk-averse growers being willing to pay more for the attributes of independent production than they would for the risk-reducing benefits of a contract. Copyright 2005 International Association of Agricultural Economics.

Dónde es mejor invertir en la compra de campo, en Argentina o en Estados Unidos?

p.219-228Este trabajo analiza dónde sería mejor invertir en la compra de un campo agrícola: en el cinturón maicero norteamericano o en la Pampa Húmeda en Argentina. El análisis se basa en la aplicación de la metodología del Valor Neto Presente. Los resultados muestran que no hay diferencias significativas entre ambas situaciones. Las diferencias se encuentran en los precios del mercado de campos: en los Estados Unidos los precios de mercado son cerca de 3 veces el Valor Neto Presente, y en Argentina los precios de mercado están cerca de 2 veces el Valor Neto Presente. Ambos modelos son solamente sensibles a diferencias en los precios de los granos