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STABILISATION AND RISK REDUCTION IN AUSTRALIAN AGRICULTURE*

STABILISATION AND RISK REDUCTION IN AUSTRALIAN AGRICULTURE* Agricultural producers typically are faced with risk about the yields they will experience and the prices they will receive. Stabilisation schemes can spread risk and thereby reduce the risk faced by individual producers. The risk‐reducing capacity of a scheme and the cost of risk reduction depend upon the design of the scheme. In particular, it is important to distinguish between risk and instability. A classification of scheme designs is presented to bring out the effects of various design types. Schemes for the wheat industry are given most attention. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

STABILISATION AND RISK REDUCTION IN AUSTRALIAN AGRICULTURE*

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Publisher
Wiley
Copyright
Copyright © 1979 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1979.tb00243.x
Publisher site
See Article on Publisher Site

Abstract

Agricultural producers typically are faced with risk about the yields they will experience and the prices they will receive. Stabilisation schemes can spread risk and thereby reduce the risk faced by individual producers. The risk‐reducing capacity of a scheme and the cost of risk reduction depend upon the design of the scheme. In particular, it is important to distinguish between risk and instability. A classification of scheme designs is presented to bring out the effects of various design types. Schemes for the wheat industry are given most attention.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Dec 1, 1979

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