AN OPTIMAL-CONTROL APPROACH TO STABILISING AUSTRALIAN WOOL PRICES

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.


Issue Date:
1983-04
Publication Type:
Journal Article
Record Identifier:
http://ageconsearch.umn.edu/record/22822
PURL Identifier:
http://purl.umn.edu/22822
Published in:
Australian Journal of Agricultural Economics, Volume 27, Number 1
Page range:
44-72
Total Pages:
29




 Record created 2017-04-01, last modified 2018-01-22

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