AN OPTIMAL-CONTROL APPROACH TO STABILISING AUSTRALIAN WOOL PRICES

Mike Hinchy and Phil Simmons

Australian Journal of Agricultural Economics, 1983, vol. 27, issue 01, 29

Abstract: In this paper, some aspects of the application of optimal-control techniques to wool industry price stabilisation are considered. It is not intended to provide a blueprint for the immediate adoption of optimal-control techniques in the management of wool price stablisation. Rather, the contribution is to the developmental and evaluative process involved in considering these techniques. A new econometric model of wool price and supply is also presented, since none of the existing models satisfied the requirements of the study.

Keywords: Demand; and; Price; Analysis (search for similar items in EconPapers)
Date: 1983
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:ajaeau:22822

DOI: 10.22004/ag.econ.22822

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