Where the production of milk for sale on the fresh milk market at 'controlled' prices is subject to nontransferable quotas the holders of quota who wish to maximise profits have a motive to maintain production above the quota level to insure against variations in demand for over-quota sales and...

In this paper the foundations on which the predictive interpretation of futures prices rests are discussed, and possible reasons for the differential predictive performance of futures prices as between different commodity markets examined. The predictive performances of futures, and spot prices...

The study described in this article is concerned with the derivation of an average production function for 50 sheep farms on an area of light land in the Malvern County, Canterbury Plains, New Zealand. It is based on farm survey data for the 1955/6 season. The locality of the survey was chosen...

The New South Wa1es Milk Board was brought into being in 1929, as a result of producer action, to bring order into a highly disorganised market situation. The retailing of milk had been extremely competitive, milk supply and hence milk price had been erratic and hygiene had been a matter of...

Most of the supply elasticity estimates reported for Australian agriculture are derived from equations estimated using time series data and incorporating ad hoc assumptions about price expectations. The authors' aim is to compare previously obtained supply elasticity estimates with those derived...