In this article we explore some issues surrounding the use of farm‐level efficiency and productivity estimates for benchmarking studies. Using an eight‐year balanced panel of Victorian wool producers we analyse annual variation between estimates of farm‐level technical efficiency derived...

In this paper we examine the Duty of Care concept as it may be applied to land management in Australia. We show that the efficiency case for extending the Duty of Care owed by farmers to correct off-farm environmental costs is weak. The economic issues of what conservation should be carried out...