In this paper we consider the problem of accommodating indigenous cultural heritage values in resource assessment and valuation. We suggest a need for price-based approaches to valuation to be replaced by or complemented with quantitative constraints, reflecting the requirement that rights...

A forestry industry based on the native Darwin stringybark forests of Cape York Peninsula has been identified as a potential generator of employment and income for Wik people. Information appropriate for examining potential Wik timber utilisation strategies is scarce, necessitating primary data...

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...

The large, unutilised native forest timber resource on traditional Wik land on Cape York Peninsula, Australia, could be managed for timber production to contribute to Wik socio-economic objectives. Wik elders have a set of forestry objectives and envisage that these will be best achieved by a...

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...

Wik people on Cape York Peninsula, Queensland, aspire to economic independence. Commercial processing of native forest timbers is seen by Wik people as a culturally appropriate engine for economic development; however, much uncertainty surrounds their property rights to native forest timber. The...

This paper has two goals. First, we demonstrate that standard arguments and methods from production and duality analysis can be used to provide a comprehensive and general treatment of the value of information for a risk-averse firm with expected-utility (linear-in-probabilities) preferences and...

In the past year, climate change has moved from political controversy to political consensus; at least, in relation for price-based policies the need to limit emissions. Uncertainties remain but with both major parties proposing to develop an emissions trading regime, it is timely to highlight...

We formulate a dynamic framework for an individual decision-maker within which discovery of previously unconsidered propositions is possible. Using a standard game-theoretic representation of the state space as a tree structure generated by the actions of agents (including acts of nature), we...

In this paper we show that, if demand varies stochastically, and firms compete after the realization of demand shocks, the strategy space may be inferred from market evidence. The key idea is that, in equilibrium, each firm acts as a monopolist, choosing the optimal price-quantity combination...