This study is motivated by the suggestion that the objectives of the AWB Ltd have changed since semi-privatisation of the Australian Wheat Board under the Wheat Marketing Act, 1989. Conceptualising this change of objectives as a shift from revenue maximization to profit maximization, this study...

This study is motivated by the proposition that the objectives of the AWB Ltd havechanged since semi-privatisation of the Australian Wheat Board under the WheatMarketing Act, 1989. Conceptualising this change of objectives as a shift from revenuemaximization to profit maximization, this study...

A lack of awareness and understanding of risk and uncertainty can lead to poor decision making and higher costs for policy providers, as not accounting for them may produce policy which is inflexible and with a negative effect on welfare. Further, misunderstanding of and/or failure to account...

This paper investigates the role of expected protein levels in determining the impact of protein premiums and discounts on firstly, a grower’s income stream, and secondly, a grower’s willingness-to-pay for a forward contract. The impact is examined for a range of expected protein levels...

This paper assesses the welfare effects of a combination of policy changes affecting PNG cocoa producers during the 1990's. These policy changes are the introduction (in 1992) and intended removal (in 1997) of a price support policy plus an intervening devaluation and subsequent floating of the...

This paper proposes modifications to the existing EU set-aside policy which are designed to alleviate the problem of output slippage associated with heterogeneous land quality by using "incentive-compatible" mechanisms drawn from principal-agent theory. Specifically, it is suggested that there...

As a signatory of the World Trade Organisation Agreement, Australia has a responsibility to ensure that the behaviour of its internal markets for food and food-related products abide by the same rules and regulations as international trade. There is therefore an increasing need to demonstrate...

This paper develops the key finding of Hogan, Ozanne and Colman (2000) that risk aversion among farmers ameliorates the moral hazard problem in relation to agri-environmental policy compliance. It is shown that risk averse farmers who face uncertainty in their production income are more likely...