Drought policy: A state-contingent view,

The standard approach to modelling production under uncertainty has relied on the concept of the stochastic production. In this paper, it is argued that a state-contingent production model is more flexible and realistic. The model is applied to the problem of drought policy.

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Year of publication:	2003-08
Authors:	Quiggin, John ; Chambers, Robert G.
Institutions:	Risk and Sustainable Management Group (RSMG), School of Economics
Subject:	Drought production uncertainty

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Extent:	application/pdf
Series:	Murray-Darling Program Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number WPM03_1
Classification:	D24 - Production; Capital and Total Factor Productivity; Capacity ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008585981