Portable sawmilling trials with Acacia aneura (mulga) and A. cambagei (gidgee) have been undertaken to estimate the private landholder costs associated with small-scale timber production from woodlands in western Queensland, Australia. A time study of harvesting and milling operations...

The worldwide scare over the 'Y2K bug result in the expenditure of hundreds of billions of dollars on Y2K compliance and conversion policies. Most of this can be seen, in retrospect, to have been unproductive or, at least, misdirected. In this paper, the technological and institutional factors...

We introduce the notion of an outcome space, in which strategic interactions are embedded. This allows us to investigate the idea that one strategic interaction might be an expanded version of another interaction. We then characterize the Nash equilibria arising in such extensions and...

In this paper, we consider the relationship between supermodularity and risk aversion. We show that supermodularity of the certainty equivalent implies that the certainty equivalent of any random variable is less than its mean. We also derive conditions under which supermodularity of the...

This paper develops an analytically tractable approach to the comparative statics of output subsidies for firms, with monotonic preferences over costs and returns, that face price and production uncertainty. We derive comparative static results for input demand and output supply

Microeconomic reform dominated Australian economic policy from the early 1980s until the end of the 20th century. Despite strong claims of success, focusing on the economic expansion since 1992, and rapid productivity growth between 1993-94 and 1998-99, evidence of improvements in the...

In many resource management problems, the starting point is one involving a large number of users with imprecisely defined rights and an aggregate rate of resource use that is environmentally unsustainable. One possible policy response is to make formal or informal contracts with users, under...

In this article, it is shown that a wide range of comparative statics results from expected utility theory can be extended to generalized expected utility models using the tools of supermodularity theory. In particular, a range of concepts of decreasing absolute risk aversion may be formulated...

In this paper, we extend the state-contingent production approach to principal-agent problems to the case where the state space is an atomless continuum. The approach is modelled on the treatment of optimal tax problems. The central observation is that, under reasonable conditions, the optimal...

This paper describes experiences in the development and testing of three distinct financial models to support farm forestry decisions involving non-traditional tree species in northern Australia and in the Philippines. A variety of options were examined with respect to model design, yield...