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Drought Policy: A State-contingent View

John Quiggin () and Robert G. Chambers

No 149836, Risk and Sustainable Management Group Working Papers from University of Queensland, School of Economics

Abstract: The standard approach to modelling production under uncertainty has relied on the concept of a stochastic production. In this 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: Environmental Economics and Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 24
Date: 2003-08
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https://ageconsearch.umn.edu/record/149836/files/WPM03_1.pdf (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:uqsers:149836

DOI: 10.22004/ag.econ.149836

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