The use by farmers of futures contracts and other hedging instruments has been observed to be low in many situations, and this has sometimes seemed to be considered surprising or even mysterious. We propose that it is, in fact, readily understandable and consistent with rational decision making....

There is a wide variety of approaches to whole farm models (WFMs) including purely biophysical models as well as models that combine biological and financial elements. Our study was motivated by the notion that researchers may benefit from guidelines on the choices they must make about modelling...

Please see revised/updated version of this paper - Working Paper 1507 published April 2015.

The farm-level economics of conservation agriculture (zero tillage, mulching and crop rotation)are described, reviewed and modelled. The economics are defined broadly to include not just shortterm financial benefits and costs, but also the whole-farm management context, constraints on key...

Environmental agencies and utilities wishing to support environmental projects face the challenge of deciding which of the many possible projects they should support with their limited resources. Projects vary greatly in their benefits and costs, so selecting the best projects can make a major...

Water agencies and utilities wishing to support water-sensitive projects face the challenge of deciding which of the many possible projects they should support with their limited resources. Projects vary greatly in their benefits and costs, so selecting the best projects can make a major...

The use by farmers of futures contracts and other hedging instruments has been observed to be low in many situations, and this has sometimes seemed to be considered surprising or even mysterious. We propose that it is, in fact, readily understandable and consistent with rational decision making....