The rise of New Media associated with the Internet has radically changed many aspects of daily life, and enabled us to do things that would have seemed unimaginable even a few decades ago. The speed and volume of communications has increased by a factor of a million or more since the Internet...

At the Crossroads by Jane Kelsey (Wellington, Bridget Williams Books, 2002), xiv + 137 pp., ISBN 1 877242 91 8. Free Trade Under Fire by Douglas Irwin (Princeton and Oxford, Princeton University Press, 2002), xiii +257 pp., ISBN 0 691 08843 8. Free Trade Today by Jagdish Bhagwati (Princeton and...

In this article, we present one of the first real-world empirical applications of state-contingent production theory. Our state-contingent behavioural model allows us to analyse production under both inefficiency and uncertainty without regard to the nature of producer risk preferences. Using...