Farmers in developing countries have limited opportunities for borrowing to even out variability associated with risky farm income, but they can save. A dynamic programming model of savings is presented in the current paper which examines optimal savings strategies for farmers, using a case...

The nature of the seasonal water market is examined using a theoretical model andempirical evidence from the Victorian market. Drivers of the seasonal opportunitycost of water include the underlying nature of investment in the industry made in thecontext of risky entitlement yields; and the...

In this paper, the price dynamics of a rice market are examined using dynamic programming techniques. The model is parameterised to the case of Bangladesh and thus represents the situation of a very poor country which has characteristically high price elasticity (due to income effects) and high...