We review and implement a reversible jump approach to Bayesian model averaging for the Probit model with uncertain regressors. Two applications are investigated. The first is the adoption of organic systems in UK farming, and the second is the influence of farm and farmer characteristics on the...

Overcapacity is a major problem in common-pool resources. Regulators increasingly turn from limited entry to individual transferable use rights to address overcapacity. Using individual vessel data from before and after the introduction of individual harvest rights into a fishery, the paper...

Modern farming in Australia is no longer simple. Farms are large, multi-enterprise businesses underpinned by expensive capital investments, changing production technologies, volatile markets and social challenges. The complexity of modern broadacre farming leads to the question: what is the...

Although the benefits of organic farming are already well known, the conversion to organic farming does not proceed as the Dutch government expected. In order to investigate the conversion decisions of Dutch arable farms, a discrete stochastic dynamic utility-efficient programming (DUEP) model...

Increasing landholder participation in environmental programmes is often essential for achieving desired levels of restoration and protection, as well as the economic goals of efficiency and equity. Previous literature has identified sociodemographic property and attitudinal variables that...

Analytical results for steady-state values of the biomass that maximises the sum of inter-temporal economic profits (dynamic bMEY) are derived in terms of a generalised harvesting function. The conditions under which dynamic bMEY exceeds the biomass that maximises the sustained yield (bMSY) are...

Agriculture is in the business of using ecosystem services to produce food. Examining how agro-ecosystems function provides useful insights into the economics of agriculture. Of special interest are the presence and nature of scale effects, complementarity effects and convexity effects in...

The Australian Northern Prawn Fishery (NPF) is one of the few that has adopted a dynamic version of a ‘maximum economic yield’ (MEY) target, and, on this basis, the fishery is undergoing a process of substantial stock rebuilding. This study details the bioeconomic model used to provide...