A review of crop-insurance schemes is followed by a discussion of a guaranteed-yield, crop-insurance plan. General formulae for the distribution function and mathematical expectation of indemnities for the insurance plan are presented in terms of the distribution of crop yields. Three special...

Anderson and Feder analyze the considerations that lead policymakers to undertake extension investments as a key public responsibility, as well as the complex set of factors and intra-agency incentives that explain why different extension systems' performance vary. The authors provide a...

Growth in agriculture depends on many things but one of the most important is investment in agricultural research. Decision making in the agricultural research policy area can only be aided by access to better information. This article overviews a recent endeavor to move policy dialogue beyond...

The diverse modelling activity coming under a defined concept of Simulation is reviewed first through a general outline of suggested methodology and secondly through a survey of applications in agricultural economics and kindred disciplines. The review concludes with a consideration of present...

Few attempts have been made to estimate production functions for the Australian grazing industries. The question of the nature of the effect of input levels on production risk has been broached even more rarely. Previous investigators had to employ models and methods of estimation which embody...

Project appraisal under uncertainty should, in general, be worked in terms of carefully computed expected or mean values of uncertain elements. The major exceptions are when: (a) project returns are large relative to national income; or (b) project returns are highly correlated with other...