A theoretical optimal hedging model is developed to determine potential demand from Australianfarmers for a hedging tool to remove the economic consequences of climate related variability inwheat yield. In the past, financial instruments have been developed to hedge price risk on capitalmarkets;...

Three hundred smallholders near Malang in East Java were surveyed of whom 150 wereparticipating in a hybrid seed contract with Pioneer Hybrid International Inc, an AmericanMNC that has been contracting in the area since 1986. The objectives of the study were todetermine whether the contract...

This article evaluates a hybrid seed contract between Indonesian smallholders and Pioneer Hybrid International. A transaction cost approach was used to analyse contract participation, total farm gross margins and labour and chemical use. The empirical results suggest: (a) the contract favours...

Some key elements in drought relief policy are outlined and the major themes in associated lobbying are discussed. Recent policy changes announced in 1992 are described in detail against the background of the Report of the Drought Policy Review Task Force (1990). Indifference curve analysis is...

Klieve and MacAulay (1993) (KM) analyse bargaining between the Australian and Japanese Southern Bluefin Tuna (SBT) industries using game theory. The KM model is a Nash equilibrium with symmetrical information, threat functions and a set of biological constraints. When we attempted to include the...

A model of Australian wheat grower supply response was specified under the constrainsts of price and yield uncertainty, risk aversion, partial adjustment, and quadratic costs. The model was solved to obtain area planted. The results of estimation indicate that risk arising from prices and...