Although the solution to a linear programming problem is not necessarily unique, the theoretical and practical implications of multiple optima have not been thoroughly discussed by agricultural economists. Recently there have been calls for greater recognition, resolution and exploitation of...

Two recent papers in this Review (Vol 47, No.2, August 1979) set out to evaluate alternative forecasting techniques applied in the Australian beef market. The two papers: "Forecasting NSW Beef Production: An Evaluation of Alternative Techniques," by C. Gellatly, and "Comparing the Box-Jenkins...

Sufficient conditions for dominance of simply related prospects are developed for newly defined classes of limited-variation-in-risk-parameter utility functions. Necessary and sufficient conditions are given for classes of contant-risk-parameter utility functions. The latter include classes of...

Decision analysis, the practice of Bernoullian decision theory and Bayesian statistics, is reviewed in relation to its application in management. Aspects of the scaling of beliefs (probabilities) and preferences (utilities) are discussed, focussing on practical problems. It is concluded that the...

Probability judgements are important components of decision making under uncertainty. In particular, economic decisions can be aided by assuring more accurate assessment of probabilities and more realistic modelling of economic problems through the inclusion of subjective probabilities. The...