文章基本信息

标题：Investment in irreversible irrigation technology under uncertainty
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作者：Hafi, Ahmed ; Heaney, Anna ; Beare, Stephen 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2006
卷号：37
期号：SUPPL
出版社：Food Distribution Research Society
摘要：Australian governments have agreed to develop and implement policies to promote more efficient use of water resources and improved water quality. Policy objectives may include incentives for investment in efficient irrigation technologies. However, the presence of large, sunk investment and the uncertainty of future returns will have an impact on the efficiency of such policies and the timing of the water savings and environmental benefits that they generate. A case study of Murrumbidgee Irrigation Area is used to quantify the effect of sunk investment cost and uncertainty of future returns on the effectiveness and efficiency of policy initiatives to increase water use efficiency. The results indicate that these factors slow adoption rates substantially. Policies that promote greater certainty with respect to water resource can potentially increase adoption rates and resultant environmental outcomes.
关键词：investment;irreversibility;uncertainty;irrigation technology;real options;technology adoption