This 1977 paper is one of several by Alaouze about estimating Armington elasticities for the ORANI model. It postulates that during periods of high demand, domestic producers are unable to supply goods promptly and so purchasers must wait for delivery. The implicit cost of waiting for domestic...

By-catch reduction devices increase the equilibrium population of the by-catch species at every level of effort directed at the target species of fish. Also, cost per unit effort is increased and this reduces effort and profit. It is shown that for effective bycatch reduction devices, the fall...

The non-market component of forest standing value is considered by many to exceed the value of market goods from the forest, but this part of forest standing value is usually omitted from economic models that are used to determine the optimal forest rotation. These models therefore produce...

The comparative productivity of inputs is often the focus of applied studies of production. For example, one might wish to compare the marginal product of water in irrigation districts to provide guidelines for capital investment in new water projects or to assist in water allocation decisions....

Dynamic programming is used to examine whether Australia should store wheat for subsequent sale at higher prices. The dynamic programming model is developed assuming that the demand for Australian wheat is perfectly elastic at the world price. An important consequence of this assumption is that...