The economics of a higher loan rate to support US wheat prices is analysed. Utilising optimal control theory, a dynamic wheat trade model is developed. The basic premise underlying the model is that the United States finds itself having transient monopoly power in the wheat market. An expression...

Following the dismantling of a price-support program, a central bureaucracy is left with a commodity stockpile to dispose. It happened with wheat and feed grains in the U.S. in 1986 and wool in Australia in 1991. It soon may happen in Europe with grains, manufactured dairy products and other...

In a recent article in this journal, Tisdell (1) has taken up the question of price stabilisation as it affects both the growers and users of a raw material, in this case wool. He has constructed a model which purports to show conditions under which a reduction in the variability of wool prices...

A model is developed to show how changes in the elasticity of the supply function at the farm level offset increased levels of buyer (processor) concentration such that given percentage increases in demand by large buyers result in the same, or smaller, percentage price changes than do increases...

Cross-sectional data are used to estimate a three-equation generalised addilog demand system (GADS); two equations are used to express the demand for milk by method of sale and a residual equation is used to close the system. It is shown that, as the average budget share of the residual equation...

The market for Australian prime lamb is characterised by high production seasonality and a highly competitive retail demand. Because these factors often translate into substantial market variability, regular forecasts of supply and demand are important requirements of lamb market participants....

Microeconomic capital goods theory was utilised to provide a theoretical framework on which a dynamic econometric model was based. Econometric procedures were then employed in an analysis of sheep producers' decision making regarding the annual supplies of wool, lamb and mutton, and annual...

During the 1950s and 1960s pipelines were built to provide water to many farms in the central wheatbelt of Western Australia using public funds. The resulting network has become known as the Comprehensive Water Supply Scheme. The expansion of the Scheme is currently under consideration. An ex...

Risky output prices and production characterise Australian agriculture. Exports are vitally important, sometimes relying heavily on a particular market. In this study a model is developed to include explicitly both output price and technological risks as well as multiple output relationships. It...