Drought policy: a graphical analysis

John Quiggin and Robert Chambers ()

Australian Journal of Agricultural and Resource Economics, 2004, vol. 48, issue 2, 27

Abstract: 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 state‐contingent production model is more flexible and realistic. The model is applied to the problem of drought policy.

Keywords: Risk; and; Uncertainty (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (13)

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Journal Article: Drought policy: a graphical analysis (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aareaj:117961

DOI: 10.22004/ag.econ.117961

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