Cattle purchasing, feeding, and selling decisions are described by a free-time optimal control model. The nutrient constraints of the National Research Council and a recently published dry matter intake constraint augment the model and make it nonlinear in the feed ingredients, the daily gain,...

Following the dismantling of a price-support program, a central bureaucracy is left with a commodity stockpile to dispose. It happened with wheat and feed grains in the U.S. in 1986 and wool in Australia in 1991. It soon may happen in Europe with grains, manufactured dairy products and other...

Non market valuation and bio economic modelling are combined in a dynamic model of ecosystem services. A mathematical proof demonstrates that the imputed price of natural capital contains all non market values and that scarcity rent is the total value of ecosystem services. A dynamic demand...

Stochastic differential equations are a flexible way to model continuous probability distributions. The most popular differential equations are for non-stationary Lognormal, non-stationary Normal and stationary Ornstein-Uhlenbeck distributions. The probability densities are known for these...

Australia by using the data from the newly finished National Survey of Recreational Fishing (2000/2001)(NSRF). There are a number of findings. 1. Socio-economic characteristics of anglers didn’t affect their catch of high quality fish (prize fish, reef fish or key-sport fish) as much as their...

Abstract Currently Unavailable.

Abstract Currently Unavailable.

Economic research on the consumption of harmful goods focuses principally on the addictive nature of consumption rather than its impacts on health, despite medical research showing that consumers primarily consider health effects when making decisions about addictive behaviour. In this paper,...