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Estimating benefits for dairy production systems from sustainable irrigation practices: Intervention and adjustment in Victorian Land and Water Management Plans

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  • Gyles, Oliver

Abstract

Approaches to valuing regional responses in plant productivity from investment in natural resource management are reviewed. The usefulness of data from surveys for estimating marginal physical product is discussed. Since investment reduces declining trends in productivity, an estimate of value marginal product based on based on milk price has seemed appropriate. But as forage is an increasingly substitutable intermediate product in dairy production systems its value will not exceed that of the least cost substitute. Qualified estimates indicate the extent of overestimation of benefits produced by some previous approaches. Implications for natural resource management policy are considered.

Suggested Citation

  • Gyles, Oliver, 2002. "Estimating benefits for dairy production systems from sustainable irrigation practices: Intervention and adjustment in Victorian Land and Water Management Plans," 2002 Conference (46th), February 13-15, 2002, Canberra, Australia 125094, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare02:125094
    DOI: 10.22004/ag.econ.125094
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    References listed on IDEAS

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    1. Marshall, Graham R. & Jones, Randall & McGrath, Sally, 1994. "Significance of Farmer Response for Estimating Agricultural Costs of Land Salinisation," 1994 Conference (38th), February 8-10, 1994, Wellington, New Zealand 148482, Australian Agricultural and Resource Economics Society.
    2. Gyles, Oliver & Baird, Catherine A. & Brown, Stuart, 1999. "Economics of Reduced Water Allocations: Estimating Impacts on the Northern Victorian Dairy Industry," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123810, Australian Agricultural and Resource Economics Society.
    3. Ferris, Alexandria & Malcolm, Bill, 1999. "Sense and Nonsense in Dairy Farm Management Economic Analysis," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123803, Australian Agricultural and Resource Economics Society.
    Full references (including those not matched with items on IDEAS)

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    Keywords

    Livestock Production/Industries;

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