Underwriting Agricultural Commodity Prices
Underwriting schemes are increasingly being used as a basis for price policy in Australian agricultural industries. These policies simultaneously increase average returns and reduce the risk faced by producers. In this paper, conditions are discussed under which such a combination of policy targets may be desirable. The optimality properties of underwriting schemes in achieving these targets are examined and compared to those of alternative schemes. Aspects of underwriting scheme design are discussed.
Volume (Year): 27 (1983)
Issue (Month): 03 (December)
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- Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
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- Harris, Stuart, 1975. "Tariff Compensation: Sufficient Justification For Assistance To Australian Agriculture?," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 19(03), December.
- Sandmo, Agnar, 1971. "On the Theory of the Competitive Firm under Price Uncertainty," American Economic Review, American Economic Association, vol. 61(1), pages 65-73, March.
- Quiggin, John & Horowitz, John, 1995. "Time and Risk," Journal of Risk and Uncertainty, Springer, vol. 10(1), pages 37-55, January.
- Arrow, Kenneth J & Lind, Robert C, 1970. "Uncertainty and the Evaluation of Public Investment Decisions," American Economic Review, American Economic Association, vol. 60(3), pages 364-78, June.
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