Screening equilibria, mainly those a la Rothchild-Stiglitz(1976), have been widely used to explain various aspects of mortgage contracting. In the real world, however, most mortghage contracting processes involve both signalling and screening. In this paper, we combine signalling and screening...

To value non-transferable non-hedgeable (NTNH) contingent claims and price executive stock options (ESOs), we use a replication argument to translate portfolios with NTNH derivatives into portfolios of primary assets (only) with stochastic portfolio constraints. By identifying stochastic...

Since the mid-1970s the south-west of Australia has displayed a warming and drying trend in its climate. Using parametric and non-parametric methods this paper provides a decadal assessment of the profitability, productivity and productivity components of over 250 farms in the region. The farm...

Western Australia (WA) supplies around three-quarters of Australia’s exports of live sheep. The number of sheep exported live from WA has ranged from 4.5 million to 2.4 million with the trend in numbers exported being downwards. The future of this export trade appears to be increasingly...

Improving farm productivity is often touted as essential for the future prospects of Australian agriculture, particularly for the export-oriented broadacre farm sector. This paper draws on farm panel data for the period 2002 to 2011. The annual components of productivity of the same group of 223...

Despite extensive research demonstrating relationships between hope and well being, little work addresses whether hope is malleable. We test a single-session, 90-min intervention to increase college students’ hopeful goal-directed thinking (as defined by Snyder et al. in, Pers Soc Psychol...

The separation of commercial forestry from forest conservation and the subsequent end to old-growth logging in Western Australia, created fundamental problems for the Forest Products Commission, leading to a review of its functions in 2006. The FPC response to constraints on its viability...

Voting in an election in which elimination of the local car tax is the central issue shows how a highly visible universal tax cut can prevail in the electoral process even if benefits are skewed toward upper income households. These results are consistent with positive models of fiscal structure...