The value of price- and quantity-fixing contracts for piglets in Finland.
The value of price- and quantity-fixing contracts for piglets in Finland.
复制标题
芬兰仔猪价格和数量固定合同的价值。
DOI：
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发表时间：
2000
期刊：
影响因子：
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通讯作者：
H. Wang
中科院分区：
文献类型：
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作者：
K. Pietola;H. Wang
本文估计了从分娩农场到精炼农场交易断奶仔猪的价格和数量固定合同的价值。这些价值是用准期权价值估计的，受生猪生产单位投资回报波动的推动。结果表明，生猪生产者在投资生猪生产时有选择垂直协调或一体化生产系统的动机。固定价格和数量合同的价值估计为分娩单位投资支出的7.3%，精育单位投资支出的2.7%。暂停精加工单位生产的选项的相应价值估计为1.7%。版权所有2000，牛津大学出版社。
This paper estimates the value for price- and quantity-fixing contracts to trade weaned piglets from farrowing farms to finishing farms. These values are estimated using quasi option values, driven up by volatile returns to investment in hog production units. The results suggest that hog producers have an incentive to choose vertically coordinated or integrated production systems when investing in hog production. The value of the price- and quantity-fixing contract was estimated as 7.3 per cent of the investment outlay in farrowing units and 2.7 per cent of the investment outlay in finishing units. The corresponding value of the option to suspend production in finishing units was estimated at 1.7 per cent. Copyright 2000, Oxford University Press.