A simplified version of the BEAM Rubber Agroforestry Model is embedded in a dynamic economic model to examine the impact of uncertainty about prices and climate on decision variables. Solutions, in terms of optimal levels for decision variables are found using a Monte Carlo stochastic framework....

A farm financial model with leverage and investment in two farm enterprises is specified. The model is extended to incorporate futures hedging and the Separation Theorem is used to show that optimal hedging is zero. The assumption of a risk-free asset is relaxed and, while this leads to a...

The study uses empirical measures of market concentration to examine buyer competition in wool between 1974 and 1992. Three measures of concentration are examined, concentration ratios, Herfindahl indices and Lorenz curves. Data from the Australian Council of Wool Exporters are used to obtain...

From my experience as a manager of economic research I believe that tertiary agricultural economics education has two major shortcomings. First, a large proportion of new graduates have poor writing skills. Their problems in this area revolve around ignorance of elementary grammar and lack of...

In this paper, some aspects of the application of optimal-control techniques to wool industry price stabilisation are considered. It is not intended to provide a blueprint for the immediate adoption of optimal-control techniques in the management of wool price stablisation. Rather, the...

Klieve and MacAulay (1993) (KM) analyse bargaining between the Australian and Japanese Southern Bluefin Tuna (SBT) industries using game theory. The KM model is a Nash equilibrium with symmetrical information, threat functions and a set of biological constraints. When we attempted to include the...

A model of a production externality between two industries facing price uncertainty is specified and a Pigouvian tax introduced and solved using First-Order Conditions (FOC). This solution is then used as a baseline for comparison with results for the level of tax found using an Evolutionary...

A theoretical model of the wool market that distinguishes between large and small buyers is developed. The model forecasts that “large” buyers with a cost advantage will increase grower prices providing there is competition from a periphery of small, relatively high cost buyers. Econometric...

In this article, background research for potential policies to contain avian influenza (AI) in Southeast Asia is provided. The author discusses (a) factors influencing spread of AI in Indonesia, (b) ways animal health institutions in Indonesia work, (c) risk associated with AI, and (d) a...

A farm financial model with leverage and investment in two farm enterprises is specified. The model is extended to incorporate futures hedging and the Separation Theorem is used to show that optimal hedging is zero. The assumption of a risk-free asset is relaxed and, while this leads to a...