Based on the University of New England's Aggregative Programming Model of Australian Agriculture (APMAA), estimates of own and cross-price elasticities of supply for wool, beef and wheat under two scenarios are presented by State, B.A.E. zone, farm type and for Australia as a whole. Where...

A wide variety of methods have been suggested for ex ante project appraisal. The most logical and complete of these appears to be multiattribute utility theory (MAUT) which provides a formal procedure for handling the difficulties of ex ante evaluation arising from multiple objectives,...

The present article relates to pastoral firms in a drought-prone environment. For such firms, it explores the economic relationship between stocking rates, drought possibilities and fodder reserves. (1) The analysis shows that an optimal stocking rate can be ascertained for any given pattern of...

Game theory - aptly described as the scientific approach to poker, business, women and war - has proved to be no cure-all for the conflict situations studied by agricultural economists. Like Marshall, it has had its day. Still, just as in general economics, game theory has provided an...