The premises behind Task 2 of the International Institute for Applied Systems Analysis (IIASA's) Food and Agriculture Program are that the basic agricultural resources will, over a long run time horizon, become more scarce and expensive, that changes in the availability and the relative prices...

An important decision variable in the promotional strategy for the beef sector is the optimal level of advertising expenditures over time. Optimal stochastic and deterministic advertising expenditures are derived for the U.S. beef industry for the period `1966 through 1980. They are compared...

In a number of recent papers, Martin Feldstein has hypothesized that expected inflation may increase the real value of assets such as farm real estate. In this paper, simple models of the value of U.S. farm real estate were developed to test this hypothesis. Both adaptive expectations and...

The optimal rates of Intertemporal and within-group groundwater mining in the Ogallala Aquifer are estimated for the year 1985 to 2005. The gains realized by the optimal policy are measured and compared with gains from the free market policy and life of the aquifer is estimated.