Over the past 20 years, the RAE has produced commodity forecasts in BAE Trends in Australian Agricultural Commodities, Farm Costs and Farm Incomes and other commodity outlook publications. There have been several studies on the accuracy of the forecasts, either comparing RAE forecasts with naive...

A multi-equation end-use model is used to analyse the consumption of sawn-timber in Australia. The forecasting ability of the model is evaluated. Simulations of the model are reported and implications for policy are discussed.

Expansion of agriculture into new regions has often been followed by land degradation. In this article, it is argued that the process of land development involves the selection of pioneer's with optimistic expectations about the robustness and carrying capacity of new land. Hence, there is a...

Battaglio, Kagel, and Jiranyakul use experimental tests to compare rank-dependent expected utility (RDEU), regret theory, prospect theory, and Machina's generalized smooth preferences model. They conclude that none of these models consistently organizes the data. The purpose of this note is to...

This note shows that, under appropriate conditions, preferences may be locally approximated by the linear utility or risk-neutral preference functional associated with a local probability transformation. Copyright 2003 by Kluwer Academic Publishers