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The paper provides a review of the objectives of forecasts and of the techniques for generating forecasts in the context of agriculture. Forecasts provide information to facilitate decision making. The techniques are evaluated in terms of assumptions about the processes generating the forecast...
This paper discusses in greater detail the case for tariff compensation set out in the Green Paper on Rural Policy. It considers a number of theoretical and practical arguments levelled against the principle, including those put forward in the Annual Report for 1973‐74 of the Industries...
The option value of a good is the amount which potential consumers of the good are prepared to pay now, to ensure that the good remains available for future purchase. Option values should be considered when making resource allocation decisions, so that efficient decisions are made. The...
The energy crisis and the current world food situation have both drawn attention to the importance of off‐farm inputs in high‐technology agricultural systems. Plant pesticides are one of the most important of these off‐farm inputs. The correct use of chemical pesticides requires a high level of...
The elasticity of substitution between textile fibres is investigated within a CES production function in which the fibres are grouped according to degree of substitutability. Disaggregated data for U.S. textile usage in the post‐war period are examined and the elasticities estimated are...
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