In a recent article, Oehmke reported that a high internal rate of return for investment in research when the interaction between research and price policy costs was disregarded could become very low or even negative when the effects of research on the costs of price policy were considered. In...

Water restrictions have operated in Melbourne since October 2002. The immediate reason for their introduction was that the water in storage was depleted by drought. However, the Victorian government has expressed concern that the combined effects of population increase and possible adverse...