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COORDINACIÓN DE REVISTAS INSTITUCIONALES | UACh

e-ISSN: 2007-4026 / ISSN print: 2007-3925

Ingeniería Agrícola y Biosistemas

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Home / Articles / Vol. IV - 1 - 2011

Volume IV, Issue 1, enero - junio 2011

  

Volume IV, Issue 1, enero - junio 2011



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Incentive design, iterative planning and local knowledge in a maturing socialist economy


David Laibman

Keywords: Jacobi matrices, inverse problem of two spectra

This article, based on Silva and Weder (2006), provides a solution to two inverse spectral problems (see theorems 3.2 and 4.2) of an infinite number that exist, often found in almost all science, from geophysical navigation to the study of astronomical images. A tangible example of the latter is the photographic study of stellar spectra in order to determine the ages of the stars and their development stages by analyzing their spectra.



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Competitiveness in international trade vs. revealed comparative advantage (RCA): an essay on South American apple exports


Jaime de Pablo Valenciano; Miguel Angel Giacinti Battistuzzi

Keywords: trend, market share, distance, varieties, strategic vision

A precise distinction was first made between these two concepts in order to develop this research paper. The specialization measured by the index of revealed comparative advantage in the export of a product globally does not imply that it faces direct and global competition. Moreover, competitiveness is a variable of effect rather than cause, and therefore should be analyzed over a period of time. Therefore, it is essential that a competitiveness indicator analyze market shares in the importing countries and their trends over time. A comparative analysis of the two indicators shows that Argentina, a country with greater specialization in apple production and export than Brazil, has a lower competitiveness indicator (trade balance based on market shares) in relation to the Brazilian apple. Therefore, there is something more than just specialization to explain the competitiveness trend. The goal of this work is to achieve a new line of analysis that improves and expands the possibilities of study today on the issue of competitiveness, and that can competently measure the production-consumption relationship. While the case presented here is pears, it can be applied to all exportable products. This methodology allows the construction of a strategic vision to analyze and develop action plans in the private sector, and also facilitates public-private coordination with active policies for regional economies, with significant international trade.



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Economies of scale in Mexican agriculture:
looking for evidence


Vania Sánchez-Trujillo

Keywords: economies of scale in agriculture, agricultural concentration, smallholding, Gini index

The discussion on the economies of scale in agriculture has led to a vast literature that approaches the subject from the way it is conceptualized, to the way it can be measured. Mexico‟s agricultural deficit, and particularly its upward trend, clearly shows the need for policies that raise productivity in Mexican agriculture. The research presented here aims to assess the presence of economies of scale in Mexican agriculture. The traditional method to do this is to implement a regression analysis on the product by economic unit based on the quantity and inputs used. However, given the lack of information available to do so, we propose an empirical analysis based on the land concentration trend in Mexico and a linear regression analysis of the product per hectare. As noted in the findings, the exercise provides evidence for economies of scale; however, these are weak, which could be explained by the poor development of the land market.



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Marginalization and agriculture in socioeconomic regions of Mexico


Keywords: municipality, problems, agricultural

The Mexican agricultural sector has structural problems which have given rise to its current characteristics, a situation reflected in the so-called peasant economy, which has closer links with natural resources and where poverty levels are higher. Information generated by the National Population Council (CONAPO) and the National Institute of Statistics and Geography (INEGI) was reviewed in order to analyze the correlation and analysis of variance between different levels of marginalization (very high, high, medium, low and very low), with significant issues raised by producers captured by the 2007 Census of Agriculture (VIII) at the municipal level, and for the seven socioeconomic regions of the country. The main findings show that as the level of marginalization increases, so does the proportion of production units that report environmental problems. This behavior is seen clearly in the southern region of Mexico, where the states which lag furthest behind in socioeconomic terms are located.



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The commodities market: non-linearity episodes in the daily performance of yellow maize spot prices


Keywords: commodities, maize, Hinich portmanteau, nonlinearity

Buyers and sellers come to the derivatives market to perform a transaction on the base price. These transactions occur in regulated and unregulated markets, where they are sold without restriction, making it difficult to analyze the behavior of any product. Hence, this paper analyzes the non-linear behavior of the daily performance of the spot price of No. 2 yellow maize, the production of which ranks third worldwide, behind only rice and wheat, and was listed on the Chicago Board of Trade (CBOT), between 16/11/1990-15/11/2010, through the Hinich portmanteau test statistic. This statistic allows determining whether linear dependence is correct based on the Box-Jenkins methodology; the base of the statistic is the biespectrum with which 18 windows with non-linear dependence on the series were detected. Therefore, the decision making of individual economic agents becomes difficult, as is making a forecast for this type of series.



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Attitudes towards innovation and knowledge of agents in the value chain of the Michoacán avocado industry


Keywords: value chain, competitive advantages, innovation, knowledge

 

This article discusses the importance of innovation and knowledge as sustainable competitive advantages in the value chain of avocado exporting companies located in Uruapan, Michoacán. The analysis or measurement of the above-mentioned dimensions is performed up to the indicators of the model used in this research, since, by bringing the measurement up to this level of analysis, it allows us to determine or show the source of the competitive advantages. That is, it is not enough to just see the competitive advantage completely, but one must also know where it comes from. It also shows the value chain of the avocado product system, which is formed by operators, nursery owners, producers, packers and shippers, as well as the results of the analysis of their activities aimed at the generation of innovation and knowledge.



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Critical values and real options for evaluating innovative companies


Lizbeth Cobian-Romero; José J. Brambila-Paz; Luis E. Chalita-Tovar; Rufino Vivar-Miranda

Keywords: Black-Scholes, project evaluation, bioplastics, risk, uncertainty

An innovative enterprise that has just entered the market is known in the literature as a startup; these firms, when evaluated with traditional methods (internal rate of return, IRR; net present value, NPV; and benefit-cost ratio, BCR), are often rejected because they do not have enough financial information. The aim of this study is to determine whether the incorporation of Real Options and Critical Values methodologies to traditional valuation methods adds value to startup companies. The case explored was a bioplastics plant. To calculate the call option when increasing production, the Black-Scholes method, which consists of an equation and five variables, was used. To calculate the maximum benefit that the project must have with regard to investment, and taking into account price volatility, critical values were used. The results show that with traditional evaluation the project was rejected by obtaining a negative NPV, while the option of expanding increased the project‟s value. Analysis of the critical values shows that the most favorable input for bioplastics production is corn in Mexico, and cane in the United States. Therefore, to improve decision-making, traditional valuation tools must be integrated with the real options and critical values methodologies, especially when the companies are startups and/or they are facing risk and uncertainty.



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Binomial Model application in the evaluation of a habanero chile investment project


Alberto Orlando Pérez-Martin; José J. Brambila-Paz; Rufino Vivar-Miranda

Keywords: capsaicin, real options, Binomial Model

The habanero chile is a staple crop for the Yucatan peninsula, as it has made inroads into the world food industry for its taste and become the focus of countless agricultural and industrial activities due to its high capsaicinoid content. The pharmaceutical and cosmetics industries, among others, are conducting studies on its components. Traditional techniques (NPV, IRR, BCR) are currently used to evaluate projects to estimate the profitability of investing in them; however, they are not very effective when commodity prices are volatile, because they do not take into account that these projects are dynamic and change over time due to the circumstances and situations that come up throughout the life of the project. For these reasons, the Binomial Model of real options is used to counteract the uncertainty and reduce the risk of project failure because it allows flexibility and dynamism in projects and decision-making.


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