Alternative wheat storage policies which maximise the expected present value of returns for consumers, producers, a monopoly storage agency and society as a whole are derived using a dynamic programming model. Results are compared with those from an earlier simulation model, and are found to...

Concern over the appearance of algal blooms in Summer months on Australian waterways has been increasing in recent years. Some algae are toxic to humans and livestock when ingested. To avoid the dangers of contaminated drinking water, costs must be incurred, either by eliminating nutrient...

An optimising model is developed to determine the .sequence of total allowable catches of western mackerel which would result in the maximum present value of the stream of annual rents. It is found that the optimal steady state fishing mortality would be one half to one third of recent levels....