The Land and Water Management Plans (LWMPs) developed for the irrigation districts in the Murray region of NSW are said to be at the forefront of institutional innovation for integrated resource management. Farmers have been strongly involved both in the development of the Plans (for which...

Many explanations of agricultural technology adoption have either been based loosely on diffusion concepts and have ignored economic factors or have been static economic models that ignore dynamic and spatial aspects of adoption. In this paper we propose a model of adoption which incorporates...

The objective of this study was to determine whether long-run relationships existed between price premiums for wools with different fibre diameters. Based on cointegration analysis using monthly data from 1976.8 to 1999.10, the results showed that price premiums, in relative price terms, for...

This article analyses the risk-return efficiency of limits to which loan pricing accounts for credit risk in the Australian-farm sector. A key issue faced by banks is the trade-off between raising returns through higher risk premiums and the possibility of impairing credit quality. The...

An optimal stochastic control model of grazing that incorporates both pasture and livestock dynamics is presented. The model is solved numerically using Markov chain approximation methods. Markov chain approximation methods have a number of advantages as a means of solving stochastic optimal...