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The present paper proposes that markets for nature conservation on private land are missing because of the problem of asymmetric information. An auction of conservation contracts was designed to reveal hidden information needed to facilitate meaningful transactions between landholders and...
The present paper reports an economic evaluation of the long‐term benefits to Australia of research by the Cooperative Research Centre for Weed Management Systems (CRC) into the improved management of vulpia, the major annual grass weed of temperate pastures in New South Wales and Victoria....
The present paper argues that the costs of climate change are primarily adjustment costs. The central result is that climate change will reduce welfare whenever it occurs more rapidly than the rate at which capital stocks (interpreted broadly to include natural resource stocks) would naturally...
The state‐contingent approach to production economics presented by Chambers and Quiggin provides a new basis for deriving optimality criteria for production under uncertainty. In the present paper criteria are formally derived for risk‐averse producers. It is not possible to derive useful...
While qualitative surveys regarding consumers’ attitudes about gene technologies and their application to food production are plentiful, quantitative studies are less so. The present paper reports choice modelling methods to examine the conditions under which Australian consumers are willing to...
The present paper builds on the published literature on agricultural policy analysis under costly and imperfect enforcement by introducing enforcement costs and misrepresentation into the economic analysis of export subsidies. Specifically, the present paper examines the economic causes of...
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