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Pricing Policies under Different Objectives: Implications for the Pricing Behaviour of AWB Ltd

Author

Listed:
  • Lobb, Alexandra
  • Fraser, Rob

Abstract

This study is motivated by the suggestion that the objectives of the AWB Ltd have changed since semi-privatisation of the Australian Wheat Board under the Wheat Marketing Act, 1989. Conceptualising this change of objectives as a shift from revenue maximization to profit maximization, this study examines the impact of such a change on the pricing policies of a multi-market price-setting firm. More specifically, this study investigates, for two hypothetical objective functions, a risk averse firm’s price-setting behaviour in an “overseas” and a “domestic” market, given differing costs of supply, uncertain demand functions and differing price elasticities of demand in each market. The aim is to generate empirically testable hypotheses relating to the impact of a change of objectives on pricing behaviour.

Suggested Citation

  • Lobb, Alexandra & Fraser, Rob, 2002. "Pricing Policies under Different Objectives: Implications for the Pricing Behaviour of AWB Ltd," 2002 Conference (46th), February 13-15, 2002, Canberra, Australia 183423, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare02:183423
    DOI: 10.22004/ag.econ.183423
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