Harvest Cost and Value of Citrus Operations with Alternative Technology: Real Options Approach

Nobuyuki Iwai, Robert D. Emerson and Fritz M. Roka

No 49942, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: The prospect of immigration policy reform has renewed growers’ concerns of serious labor shortages and cost increases. These concerns are more serious for specialty crop agriculture, not only because it is highly labor intensive, but also it requires labor in a very short period, particularly at harvest time. Two representative approaches of the investment valuation have been applied to the case of harvesting mechanization for the model citrus grower in Florida. Specifically, we applied the NPV approach and the real options approach (ROA) to processed-market Hamlin orange operations in Southwest Florida.

Keywords: Agribusiness; Agricultural Finance; Farm Management; Labor and Human Capital; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 27
Date: 2009-05-11
References: View references in EconPapers View complete reference list from CitEc
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49942

DOI: 10.22004/ag.econ.49942

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