Measuring Regional Productivity Differences in the Australian Wool Industry: A Metafrontier Approach

Using panel data, we estimate technology gaps for four distinct sheep-producing regions in Eastern Australia (Northern New South Wales, Central and South-Eastern New South Wales, South-Western New South Wales and South-West Victoria) that reflect spatial environmental and technological differences in wool production. A deterministic stochastic metafrontier production function model is estimated that envelops the stochastic frontiers of the four regions. This metafrontier approach enables us to estimate the environment-technology gap ratio that reflects these spatial differences in the environment and variations in production technologies in the wool enterprise for benchmarked farmers in each region. As a result, a more accurate estimation is possible of changes in total factor productivity on farms in the different regions. The major findings are that environment-technology gaps do exist between regions but they are relatively small. Greater variation is apparent within regions. Variation in technical efficiency seems to depend on the harshness of the production environment and whether consultancy advice is regularly received by the benchmarking group.Efficiency, Productivity, Metafrontier, Technology Gaps, Wool Production, Spatial, Livestock Production/Industries, Productivity Analysis, Research Methods/ Statistical Methods,

Evidence of Scope Economies in the Australian Wheat-Sheep Zone

Scope economies can be used in studies of farming systems to provide a measure of synergies between different farm enterprises and between activities within farm enterprises. In this paper, they are reported for farms in a benchmarking group in the Wheat-Sheep Zone in New South Wales, Australia, by estimating a stochastic input distance function and calculating an ‘economies of scope parameter’. Evidence is presented of scope economies between sheep and beef enterprises, sheep and crop enterprises, and beef and crop enterprises.Australia, crops, livestock, scope economies,

Evidence of Scope Economies in Australian Agriculture

Scope economies can be used in studies of farming systems to provide a measure of synergies between different farm enterprises and between activities within farm enterprises. In this paper, they are reported for farms in three benchmarking groups in Australia by estimating stochastic input distance functions and calculating an 'economies of scope parameter'. Evidence of significant scope economies between sheep and crop enterprises, and between beef and crop enterprises, is presented and discussed. Similar evidence is reported between wool and lamb activities and wool and mature sheep trading activities within the sheep enterprise.Australia, Crops, Livestock, Sheep, Scope Economics, Crop Production/Industries, Livestock Production/Industries, Research Methods/ Statistical Methods, Industrial Organization,

Computational steering of a multi-objective genetic algorithm using a PDA

The execution process of a genetic algorithm typically involves some trial-and-error. This is due to the difficulty in setting the initial parameters of the algorithm – especially when little is known about the problem domain. The problem is magnified when applied to multi-objective optimisation, as care is needed to ensure that the final population of candidate solutions is representative of the trade-off surface. We propose a computational steering system that allows the engineer to interact with the optimisation routine during execution. This interaction can be as simple as monitoring the values of some parameters during the execution process, or could involve altering those parameters to influence the quality of the solutions produce by the optimisation process

The Yale Lar TPC

In this paper we give a concise description of a liquid argon time projection chamber (LAr TPC) developed at Yale, and present results from its first calibration run with cosmic rays.Comment: 4 pages, 3 figures, NuInt07 Conference Proceeding

COMPETITIVENESS AND COMPARATIVE ADVANTAGE OF TREE CROP SMALLHOLDINGS IN PAPUA NEW GUINEA

The contribution by tree crop industries to economic development in Papua New Guinea (PNG) depends to a considerable extent on their economic efficiency in terms of competitiveness and comparative advantage of domestic production and export marketing. These advantages for the four major tree crop products - coffee, coconut, cocoa, and palm oil - are analysed in this study. The aim is to ascertain whether PNG is an efficient producer of these tree crop exports in terms of international competitiveness and comparative advantage, and whether these industries deserve continuing government support.comparative advantage, competitiveness, devaluation, traded goods, tree crops, Crop Production/Industries, International Relations/Trade,

Structuring Exotic Options Contracts on Water to Improve the Efficiency of Resource Allocation in the Water Spot Market

With the current drought in South-Eastern Australia highlighting the scarcity and value of inland Australia’s water resources, focus turns to how these resources can be allocated more efficiently. The first major step was taken almost a decade ago with the separation of land and water property rights allowing openly traded water markets. This study assesses the potential economic benefits that options contracts bring to the water market in the Murray Valley water market. Exotic call options are estimated using both Black-Scholes and skewness-and-kurtosis-amended Black-Scholes financial option pricing methods that are based on three years of data on water prices. While the presence of options would result in significant economic benefits in the more efficient trade of water on the open market for lower-value crops, there were mixed results from the attempt to price such options.options, skewness-and-kurtosis-amended Black-Scholes model, water, Environmental Economics and Policy, Financial Economics, Research Methods/ Statistical Methods, Resource /Energy Economics and Policy,

An analytical approach to integral resonant control of second-order systems

Peer reviewedPostprin

An Assessment of the Impact of Strategic Alliances in Food Processing on the Technical Efficiency of Housewives Groups in Thailand

The cottage food processing industry in Thailand comprises mainly small-scale enterprises such as the ‘housewives groups’ that consist of a number of housewives who combine their food processing activities in a particular district or village. The effects of various factors on the performance of these housewives groups is assessed using survey data to estimate a stochastic input distance model. Our results show that membership of vertical strategic alliances at a high level is associated with higher levels of technical efficiency. Other factors positively influencing technical efficiency within these groups are the level of experience of group members, the ratio of workers to total members, government support, the community base of the group as opposed to private ownership, and the availability of funds to invest in business activities that have been derived from savings activities by group members. The ability of housewives groups to exploit cost complementarities by combining fruit and vegetable processing activities is tested by estimating scope and diversification economies for fruit and vegetable processed outputs. While diversification economies were found to exist, the more rigorous test for scope economies did not support their existence.Housewives group, scope economies, strategic alliance, Agribusiness,