[1] Water allocation in Mediterranean basins is characterized by increasingly uncertain availability. Mechanisms that facilitate water transfers and efficient risk sharing are critical for dealing with cyclical water shortages. An option contract can be an appropriate instrument for aiding such exchanges based on specific water rights attributes. Access to certain amounts of water under preestablished conditions could provide the basis for the option contract. The main objective of this paper is to test the hypothesis according to which an option contract may be a viable instrument for achieving efficient sharing of hydrological risks. A dynamic, stochastic, and discrete time model is developed to characterize the contract from the viewpoint of the selling party. The application of this methodology can find the compensating premium, which is computed as a risk premium. The premium ensures adequate compensation for the seller as well as for the additional risk imposed by the contract. The hypothesis is empirically tested by simulating the contract as a partial solution to the problems faced by the urban supply system of Seville (Spain). The other party is an irrigation district. Results show that the option contract would be a viable solution for both parties. For Seville's urban water supply system the option contract provides a more cost-effective alternative water supply than those presently considered by the city's water company. We find that mixed strategies including company's drought plans and option contracts are the most efficient, leading to less severe and less likely water shortages within the city supply system.
Los criterios de asignación de agua destinada al regadío influyen decisivamente en la vulnerabilidad a sequías hidrológicas en la Cuenca del Guadalquivir. El Plan Hidrológico de la Cuenca define específicamente los objetivos de garantía de suministro para usos agrarios. El grado de cumplimiento de estos objetivos es tributario de los criterios de reparto del agua disponible, y por tanto de la gestión de las reservas hidrológicas. El objetivo de este trabajo es evaluar la actual regla de asignación de dotaciones agrarias, obteniendo estimaciones sobre el grado probable de cumplimiento de los objetivos de garantía presentes en la planificación de la cuenca. La metodología seguida para hacer esta evaluación integra tres modelos. El primero permite conocer la probabilidad asociada de cada determinado nivel de reservas de embalse. El segundo descubre el modelo de decisión seguido en la cuenca para definir las dotaciones de los regantes. La aplicación secuencial mediante técnicas de simulación a estos modelos permite conocer la probabilidad asociada a tener una determinada dotación y por tanto conocer el grado de cumplimiento de estos criterios. Se ha empleado un tercer modelo de programación matemática dinámica que permite evaluar las implicaciones del cumplimiento o no de la garantía de suministro sobre variables económicas relevantes de las explotaciones de regadío. Se presenta además una aplicación de este modelo para evaluar el efecto sobre la garantía de suministro de una nueva política tarifaría que siga las recomendaciones establecidas en la Directiva Marco. Los resultados revelan que, con las actuales reglas de reparto seguidas por la Confederación Hidrográfica del Guadalquivir, los criterios de garantía de suministro a los regantes establecidos en la planificación de la cuenca tienen una probabilidad baja de cumplimiento, lo cual es coherente con los estudios posteriores elaborados para el Plan Hidrológico Nacional. La aplicación de una tarifa que suponga la recuperación de los costes conllevaría una mejora factible del cumplimiento de estos criterios, máxime ante escenarios de cambio climático adversos.
Recibido en marzo de 2003. Aceptado en enero de 2004.Cap 05-Almudena Gómez 18/11/04 16:50 Página 81 PALABRAS CLAVE: sector vacuno, mecanismos de diferenciación, modelo logit, Indicación Geográfica Protegida. Clasificación JEL: Q13;Q18.Main factors explaining the participation of beef cattle farms from Navarra (Spain) in instruments aimed to products differentiation SUMMARY: Beef cattle sector is readapting to increasing requirements from the demand, which looks for a differentiated product, with constant quality, in a market beginning to be dominated by great distribution companies. Mechanisms to differentiate production are been implemented in this context, co-ordinating both production and marketing processes and integrating livestock farmers into the commercial system. This paper study the relation between these mechanisms and the characteristics of the livestock systems, addressing the causes explaining the voluntary integration of farmers in them. The research area selected was the Comunidad Foral de Navarra due to the existence since more than ten years ago of the Protected Geographic Indication (PGI) «Ternera de Navarra», created to support and promote beef meat from Navarra. In addition to the PGI there also exist differentiation mechanisms represented by small private quality labels implemented by farmers. The development of a Logit model based on a survey to farmers has allowed to identify which are those variables with greater influence in the decision of integration into the PGI. Additionally, results show how this Indication is an important instrument to support some specific livestock systems trough the marketing and promotion of their production. So, the PGI can be considered as a rural development instrument that increased the added value of certain products in less favoured areas, while private labels focus on integrating greater and more intensive farms, more competitive and better adapted to market exigencies.
Le rôle des indications géographiques dans le processus d'intégration des systèmes d'élevage bovin extensif dans les circuits de distribution. Trois études de cas en EspagneRésumé -Le secteur de l'élevage bovin se trouve dans une phase d'adaptation aux exigences croissantes de la demande. Les consommateurs demandent des produits bien différenciés et de qualité constante, sur un marché qui commence à être dominé par la grande distribution. Dans ce contexte, les mécanismes de différenciation des produits poursuivent un double objectif : d'une part, coordonner la production et la commercialisation, d'autre part, faciliter l'accès des éleveurs aux circuits de distribution. Les systèmes d'élevage extensif occupent une place particulière en Espagne en raison de leurs valeurs patrimoniales et environnementales, mais leurs structures et niveaux de rentabilité constituent des obstacles à leur adaptation aux nouvelles tendances du marché. Cette situation nécessite de faire appel à des instruments en mesure d'amener les producteurs à s'adapter à une plus grande différenciation de leurs produits et obtenir une valeur ajoutée plus importante. Ces instruments peuvent être soutenus par les institutions publiques ou par le secteur privé, grâce à des marques de qualité liées à une origine géographique. L'objectif est ici de caractériser ce processus d'adaptation des systèmes espagnols d'élevage extensif à travers trois études de cas, qui représentent trois types de localisation : zones de montagne du nord, du centre et du sud du pays. Un modèle logit, basé sur une enquête réalisée auprès des éleveurs, vise à identifier les variables qui influent le plus sur l'adhésion à une démarche commerciale s'appuyant sur une indication géographique. L'étude conclut que les trois systèmes analysés présentent d'importantes différences. Certains facteurs (cadre institutionnel, nature du marché régional...) expliquent ces différences et déterminent le degré d'adhésion des éleveurs à ces mécanismes de différenciation par l'origine. Mots-clés : élevage bovin extensif, indications géographiques, développement rural, modèle logit The role of geographical labelling in inserting extensive cattle systems into beef marketing channels. Evidence from three Spanish case studiesSummary -The beef cattle sector is adapting to increasing demand-side requirements. Customers are looking for a differentiated product of constant quality in a market that is beginning to be dominated by major distribution companies. In this background, mechanisms to differentiate production are being implemented to co-ordinate both production and marketing processes and integrate livestock farmers into the commercial system. Extensive cattle systems carry an important weight in Spain because of their social and environmental values. However, their structure and level of profitability are obstacles to their adaptation to new market trends. This situation calls for instruments that are able to bring the farmer into this adaptation process and to add value to and differentiate products...
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