This paper analyses the impact of royalties in the context of a bilateral monopoly bargaining process. It is shown that the bilateral monopoly model is characterised by two distinct forms which are distinguished by the shape of the seller’s marginal cost function, and that the view that...

This study is motivated by the suggestion that the objectives of the AWB Ltd have changed since semi-privatisation of the Australian Wheat Board under the Wheat Marketing Act, 1989. Conceptualising this change of objectives as a shift from revenue maximization to profit maximization, this study...

Motivated by recent EC proposals to “strengthen risk management tools” in the CAP in relation to farmers’ increased exposure to market price risk, this paper draws attention to a potential negative consequence of such a change in the CAP – an associated increase in cheating behaviour by...

This paper extends the multi-period agri-environmental contract model of Fraser (2004) so that it contains a more realistic specification of the inter-temporal penalties for noncompliance, and therefore of the inter-temporal moral hazard problem in agri-environmental policy design. On this basis...

This paper investigates the role of expected protein levels in determining the impact of protein premiums and discounts on firstly, a grower’s income stream, and secondly, a grower’s willingness-to-pay for a forward contract. The impact is examined for a range of expected protein levels...

This paper assesses the welfare effects of a combination of policy changes affecting PNG cocoa producers during the 1990's. These policy changes are the introduction (in 1992) and intended removal (in 1997) of a price support policy plus an intervening devaluation and subsequent floating of the...

This paper proposes modifications to the existing EU set-aside policy which are designed to alleviate the problem of output slippage associated with heterogeneous land quality by using "incentive-compatible" mechanisms drawn from principal-agent theory. Specifically, it is suggested that there...

As a signatory of the World Trade Organisation Agreement, Australia has a responsibility to ensure that the behaviour of its internal markets for food and food-related products abide by the same rules and regulations as international trade. There is therefore an increasing need to demonstrate...