Dynamic programming is used to examine whether Australia should store wheat for subsequent sale at higher prices. The dynamic programming model is developed assuming that the demand for Australian wheat is perfectly elastic at the world price. An important consequence of this assumption is that...

Grain marketing arrangements in Australia have been controversial for many years. Following an account of the historical background to grain marketing, this article concentrates on more recent debates. The most interesting technical economic argument concerns the validity of claims that...

Since the introduction of a reserve price scheme in 1970, the interest in wool marketing previously shown by agricultural economists has not been maintained outside the public service and the wool industry itself. Nor is the subject as divisive amongst wool growers with, in general, 'orderly...

This paper is a summary of some of the considerations involved in applying an existing model to a new problem, in particular in deciding whether to update or not, and some of the issues involved in interpreting the output from the new application. Thus where you start from does influence where...