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For each State a simple two‐equation model of demand and supply was fitted to post‐war data using two‐stage least squares. Prior estimates of the housing coefficient were used to break collinearity problems in the demand function. Price elasticity of demand appears to be high and income...
The objectives of this paper are two‐fold. The first is to discuss the basic economics of an aggregate industry income stabilization policy for primary producers. The second is to examine post‐World War II income instability in Australian wool, wheat, and beef and to apportion it into its price...
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The concept of stochastic dominance is described and its use is illustrated in relation to the evaluation of the output of a systems simulation model of lucerne haymaking in south‐west Spain. Two alternative machinery systems are ranked for various lucerne areas using the criteria of stochastic...
A general procedure is developed for calculating optimal rates of application of compound fertilizers, containing several nutrients in fixed composition. The calculations are based on response surface models that have been obtained with single nutrient fertilizers. The relative values of...
This paper is primarily concerned with the place of producer‐controlled marketing boards in contemporary agricultural policy. The accomplishments and limitations of state marketing boards are reviewed from the standpoint of their stated objectives. Their possible future role is discussed in the...
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