We present the first ex post study that quantitatively analyses the effects of a licence buyback and enhanced quota trading on the profitability and productivity of individual vessels in a fishery. Using firm-level data and a profit index decomposition method, we find that small and large...

The Australian National Water Initiative (NWI) builds on the foundations of earlier water reforms, attempts to correct earlier errors in both policy and its implementation, and seeks to better define some of the policy aims with the benefit of hindsight. However, despite the deliberate effort to...

The central claim of this paper is that the state-contingent approach provides the best way to think about all problems in the economics of uncertainty, including problems of consumer choice, the theory of the firm, and principal–agent relationships. This claim is illustrated by recent...

A mail survey is used to examine the consistency of alternative risk preference elicitation procedures using five commonly used methods. These elicitation procedures have been used in previous studies to characterise risk preference. Results show little consistency across procedures, supporting...

This paper uses a control theory approach to analyse the collectively optimal rate of extraction along a river system and constructs a bidding mechanism that would produce the required prices at each point. It also analyses some characteristics of this mechanism. This approach brings some new...

This paper uses suburb-level quarterly data to model residential water demand in Brisbane, Australia, from 1998 to 2003. In this system, residential consumption is charged using a fixed annual service fee with no water entitlement followed by a fixed volumetric charge per kilolitre. Water demand...

In this paper, we generalise the constant market shares (CMS) framework, with particular attention to the underlying theoretical conditions required for diagnostic interpretation. The approach is applied to the analysis of the export performance of the Australian processed food sector in...

Expropriations of foreign direct investment in developing countries are typically blamed on political and economic crises in those countries. Developing a new database of expropriations in the minerals sectors of developing country exporters, I show that expropriations were correlated with...

‘Clean and green’ has been used as a marketing tool by Australian governments to promote agricultural products overseas. But how valid are these claims? Is the ‘clean and green’ image campaign effective? And should government be involved? We conclude that Australia may have had a...

In this paper we analyse the optimal management of a renewable resource (groundwater) with stock-dependent extraction cost and a backstop substitute, facing two-sector linear demands. Application to the Kiti region in Cyprus demonstrates the model’s performance and is used to test for the...