Few studies have been made of how fanners make decisions. Most research and teaching has focused on the decision event, not the whole process. Current knowledge of the decision making process is reviewed and described as a set of eight functions or elements: values and goals, problem detection,...

Risk and uncertainty have been extensively studied by agricultural economists. In this paper we question (a) the predominant use of static frameworks to formally analyse risk; (b) the predominant focus on risk aversion as the motivation for considering risk and (c) the notion that explicitly...

Since the mid-1970s the south-west of Australia has displayed a warming and drying trend in its climate. Using parametric and non-parametric methods this paper provides a decadal assessment of the profitability, productivity and productivity components of over 250 farms in the region. The farm...

Farms and farming are major contributors to the world economy, directly responsible for a large part of GDP. These achievements are not trivial and imply that farms are being managed in reasonably effective ways, else agricultural industries would not be sustained. However has the study of Farm...

This study analyses the financial risk faced by representative mixed-enterprise farm businesses in four regions of south-eastern Australia. It uses discrete stochastic programming to optimise the ten-year cash flow margins produced by these farms, operating three alternative farming systems....