Drought policy: A state-contingent view
AbstractThe standard approach to modelling production under uncertainty has relied on the concept of the 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 Risk and Sustainable Management Group, University of Queensland in its series Murray-Darling Program Working Papers with number WPM03_1.
Date of creation: Aug 2003
Date of revision: Aug 2003
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Drought production uncertainty;
Other versions of this item:
- Quiggin, John & Chambers, Robert G, 2003. "Drought Policy: A State-contingent View," Risk and Sustainable Management Group Working Papers 149836, University of Queensland, School of Economics.
- 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 & 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.
- 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 & 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.
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