The environmental effects of expanded trade : a firm-level simulation analysis o investment in Texas grapefruit /
a modified investment decision rule. The Dixit-Pindyck model
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| Format: | Thesis eBook |
| Language: | English |
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[Place of publication not identified] :
[publisher not identified] ;
1997.
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| Subjects: | |
| Online Access: | Link to OAKTrust copy |
| Summary: | a modified investment decision rule. The Dixit-Pindyck model and environment factors were not an important additional and price volatility. applies because an investment in a citrus grove involves a appropriateness of the Dixit-Pindyck model for modeling conducted in four stages. First, based on a historical decision rule, which accounts for uncertainty and development associated with expanded trade are likely to be environmental effects from growth associated with expanded estimate the extent to which three trade and environment ex ante analysis of a prototypical Texas grapefruit explained by a model which accounts for risk due to freezes factors affect investment behavior. As modeled, these trade future investments in Texas citrus. The modified investment grapefruit grove. Sensitivity analysis was conducted to in grapefruit, relative to prices and freezes. Declines in incorporating the value of the option to wait to invest into industry and, in particular, whether rapid growth and industry. The Dixit-Pindyck model employed in this research information and data pertaining to these variables were investment analysis (based on net present value calculations) investment decision was developed, and decision rules for investment in citrus in the LRGV in the recent past are well irreversibility, is significantly different from a decision is an investment analysis technique building on orthodox large, irreversible (sunk cost) component. The research was modeled as key sources of uncertainty. Second, the obtained through interviews with experts to develop a profile of a prototypical citrus investment opportunity. Finally, an of uncertainty for a prototypical investment in a Texas opportunity cost of land -- were identified as factors likely Pindyck model. The research results support the prospective future investments were devised using the Dixit- review of the Texas citrus industry, prices and freezes were rule derived from an orthodox investment analysis. This significant factors affecting future investment in the source of uncertainty likely to influence future investment This research is about the future of the Texas citrus to account for uncertainty and irreversibility by to affect future investments in Texas citrus. Third, trade -specifically, water scarcity, congestion, and the |
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| Item Description: | "Major subject: Agricultural Economics". Vita. |
| Physical Description: | x, 146 leaves : illustrations, maps ; 28 cm. Also available online. Issued also on microfiche from Lange Micrographics. |
| Bibliography: | Includes bibliographical references: 114-120. |