Abstract
Johnny Williams, president of Global Positioning Solutions, Inc., is considering entering the market for providing remotely sensed imagery and associated prescriptions to farmers. A large initial investment is required and additional investments will be needed if the business expands. Johnny is faced with trying to predict demand for a product that is not currently available in his market area. The case prompts students to discuss the trade-off between losing "first-mover" advantage versus the potential value of waiting for additional information in a highly uncertain market demand.
Original language | English |
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Pages (from-to) | 303-312 |
Number of pages | 10 |
Journal | Review of Agricultural Economics |
Volume | 26 |
Issue number | 2 |
DOIs | |
State | Published - Jun 2004 |
ASJC Scopus subject areas
- Agronomy and Crop Science
- Economics and Econometrics