In this paper, some aspects of the application of optimal-control techniques to wool industry price stabilisation are considered. It is not intended to provide a blueprint for the immediate adoption of optimal-control techniques in the management of wool price stablisation. Rather, the...

The importance of welfare losses resulting from discrepancies between Australian Wool Corporation and trade valuations of different grades of wool is discussed. Cross-sectional data are used to relate variations in wool attributes to variations in price during 1976-7 and a model is derived for...