Drought policy: a graphical analysis

The standard approach to modelling production under uncertainty has relied on the concept of the stochastic production function. In the present paper, it is argued that a stateā€contingent production model is more flexible and realistic. The model is applied to the problem of drought policy.


Issue Date:
2004
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/117961
Published in:
Australian Journal of Agricultural and Resource Economics, Volume 48, Issue 2
Page range:
225-251
Total Pages:
27




 Record created 2017-04-01, last modified 2017-04-04

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