Drought Policy: A State-contingent View
AbstractThe standard approach to modelling production under uncertainty has relied on the concept of a stochastic production. In this paper, it is argued that a state-contingent production model is more flexible and realistic. The model is applied to the problem of drought policy
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Bibliographic InfoPaper provided by University of Queensland, School of Economics in its series Risk and Sustainable Management Group Working Papers with number 149836.
Date of creation: Aug 2003
Date of revision:
drought production uncertainty; Environmental Economics and Policy; Risk and Uncertainty; D24; D81;
Other versions of this item:
- D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
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- Adamson, David & Quiggin, John C. & Mallawaarachchi, Thilak, 2005.
"Modelling basin level allocation of water in the Murray Darling Basin in a world of Uncertainty,"
2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia
137740, Australian Agricultural and Resource Economics Society.
- David Adamson & Thilak Mallawaarachchi & John Quiggin, 2005. "Modelling basin level allocation of water in the Murray Darling Basin in a world of uncertainty," Murray-Darling Program Working Papers WPM05_1, Risk and Sustainable Management Group, University of Queensland.
- Adamson, David & Mallawaarachchi, Thilak & Quiggin, John, 2004. "Modelling basin level allocation of water in the Murray Darling Basin in a world of uncertainty," Risk and Sustainable Management Group Working Papers 149844, University of Queensland, School of Economics.
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