Transition from the planned to the market economy involved profound changesin Ukrainian economy. Before the liberalization of prices in 1992, milk processingin Ukraine was concentrated in regionally distributed large state milk processingfactories. In the meantime, the dairy sector has been...

Der Wettbewerbsdruck in der europäischen Milchviehhaltung nimmt durch die fortschreitende Liberalisierung des EU-Milchmarktes zu. Bestehende agrarökonomische Forschungsmethoden sind nur begrenzt dazu in der Lage, belastbare Abschätzungen der regionalen Wettbewerbsfähigkeit und künftiger...

Since the mid-nineties, agricultural economists discuss the suitability of “weather derivatives” as hedging instruments for volumetric risks in agriculture. Contrary to traditional insurance contracts, the payoffs of such derivatives are linked to weather indices (e.g. accumulated rainfall...

This paper deals with the fiscally neutral transferability of profits from land sales according to § 6b EStG and its possible effect on the price for agricultural land. From the point of view of the single farm this tax norm has an excellent effect. Nevertheless, from the point of view of the...

The objective of this paper is to investigate the performance of different Value-at-Risk (VaR) models in the context of risk assessment in hog production. The paper starts with a description of traditional VaR models, i.e. Variance-Covariance-Method (VCM) and Historical Simulation (HS). We...

In his numerous textbooks WILHELM BRANDES has laid the foundation for theoretically appropriate modeling of farm firms, which has recently been expanded to modeling sustainability goals. The published research results belong to the fields of economic, ecological, and social sustainability....

This paper discusses the real options approach to investment. Real options facilitate an analysis of investment under uncertainty explicitly taking into account irreversibility of the investment decision and flexibility with respect to the investment timing. This is achieved by exploiting the...

The Discussion Paper 39 represents the results of an analysis for determining influencing factors on profits and profitability of Russian enterprises in the region of Omsk. Based on the final yearly reports of the enterprises it is shown, that in Russia five earning ratios can be distinguished:...