Abstract
Pepper crops are, after tomatoes and cucumbers, the third-largest cultivated area of greenhouse crops. Its cultivation presents not only economic risks, especially inherent to prices fluctuations and costs rising, but also agronomy risks such as the presence of nematodes, aphids or water salinity. Traditionally discounted cash flows have been used to analyze the viability of these types of crops. Recently, decoupled net value was used to improve this valuation. In this paper, we propose the use of Fuzzy Decoupled Net Present Value. Once we have obtained the historical or bibliographic information, it has been presented to experts who have to report the risk in the area. This price risk is not the same anywhere, and the water salinity risk depends on the place where the farmer is going to grow peppers. Risk evaluation has been carried out through the analysis of pepper plantations for 2016 and 2017 using fuzzy mathematics. The use of decoupled net present value eliminates the risk premium interest rate and has permitted an increase in the accuracy and quantification of risks, isolating the main risks such as price drops, temporally and definitive (EUR 7680 ha−1 year−1) or salinity risks (EUR 4640 ha−1 year−1). The use of decreasing discount functions has permitted a more realistic investment estimation.
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Brotons-Martínez, J.M., Galvez, A., Chavez-Rivera, R., Lopez-Marín, J. (2022). The Use of Fuzzy Decoupled Net Present Value in Pepper Production. In: Rodríguez García, M.d.P., Cortez Alejandro, K.A., Merigó, J.M., Terceño-Gómez, A., Sorrosal Forradellas, M.T., Kacprzyk, J. (eds) Digital Era and Fuzzy Applications in Management and Economy. XX SIGEF 2021. Lecture Notes in Networks and Systems, vol 384. Springer, Cham. https://doi.org/10.1007/978-3-030-94485-8_3
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DOI: https://doi.org/10.1007/978-3-030-94485-8_3
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