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On Optimal Economic Policy Making Using Stochastic Methods

Nazrul Islam, Salilesh Mukhopadhyay and Jadunath Pradhan

No 170870, 1995 Conference (39th), February 14-16, 1995, Perth, Australia from Australian Agricultural and Resource Economics Society

Abstract: In agrarian cconom1es the success of new agricultural technologies depends on the appropriateness of policy combinations implemented by these governments In this paper different methods to optimise the related policy-mix are outlined in brief Using the results of an econometric model the goal-seeking method of the SAS package has been applied to deterministically obtain optimal policy Lastly the techniques of equilibrium programming arc used to derive an equilibrium (optimal) strategy for the associated non-zero sum stochastic game between two players

Keywords: Agricultural and Food Policy; Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods (search for similar items in EconPapers)
Pages: 23
Date: 1995-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aare95:170870

DOI: 10.22004/ag.econ.170870

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