Potential returns to the Australian sheep and wool industries from effective R&D and promotion investments and their sensitivities to assumed elasticity values
Mounter et al. (2007) developed an equilibrium displacement model (EDM) of the Australian sheepmeat and wool industries. In this paper the EDM is used to estimate the potential annual returns and their distribution among the various industry sectors for nine hypothetical investment scenarios. Initially, the EDM is solved for the base set of parameter values. A formal stochastic sensitivity analysis is then undertaken to account for the uncertain parameter values in the model. The results were found to be relatively robust to different parameter values, indicating that the model as specified provides a credible framework to estimate and compare the potential impacts from new technologies, generic promotions and other industry changes in a consistent way.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pannell, David J., 1996.
"Sensitivity Analysis of Normative Economic Models: Theoretical Framework and Practical Strategies,"
1996 Conference (40th), February 11-16, 1996, Melbourne, Australia
156444, Australian Agricultural and Resource Economics Society.
- Pannell, David J., 1997. "Sensitivity analysis of normative economic models: theoretical framework and practical strategies," Agricultural Economics, Blackwell, vol. 16(2), pages 139-152, May.
- Pannell, David J., 1997. "Sensitivity analysis of normative economic models: theoretical framework and practical strategies," Agricultural Economics of Agricultural Economists, International Association of Agricultural Economists, vol. 16(2), May.
- Mounter, Stuart W. & Griffith, Garry R. & Piggott, Roley R. & Fleming, Euan M. & Zhao, Xueyan, 2008. "An Equilibrium Displacement Model of the Australian Sheep and Wool Industries," Research Reports 37663, New South Wales Department of Primary Industries Research Economists.
- John D. Mullen & Julian M. Alston & Michael K. Wohlgenant, 1989.
"The Impact Of Farm And Processing Research On The Australian Wool Industry,"
Australian Journal of Agricultural and Resource Economics,
Australian Agricultural and Resource Economics Society, vol. 33(1), pages 32-47, 04.
- Mullen, John D. & Alston, Julian M. & Wohlgenant, Michael K., 1989. "The Impact Of Farm And Processing Research On The Australian Wool Industry," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 33(01), April.
- Zhao, Xueyan & Griffiths, William E. & Griffith, Garry R. & Mullen, John D., 2000. "Probability distributions for economic surplus changes: the case of technical change in the Australian wool industry," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(1), March.
- Mullen, John D. & Alston, Julian M., 1994. "The Impact on the Australian Lamb Industry of Producing Larger Leaner Lamb," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 62(01), April.
When requesting a correction, please mention this item's handle: RePEc:ags:auagre:125732. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.