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Social benefit cost analysis of Dairy Moving Forward extension activity

Author

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  • Malcolm, Bill
  • Paine, Mark

Abstract

Dairy Australia has delivered a program entitled DMF involving a series of activities to enhance the expertise of dairy farmers and encourage their use of expert services. A substantial investment of $5.2m (adjusted to 2005 dollars) has been made by Dairy Australia in the program. In this report, justifications for DA using farmers’ and taxpayers’ funds in this way are explored; a Social Benefit Cost Analysis has been carried out. The conclusion is that the public and industry investment in DMF is likely to have earned a return on capital that justifies the investment.

Suggested Citation

  • Malcolm, Bill & Paine, Mark, 2007. "Social benefit cost analysis of Dairy Moving Forward extension activity," AFBM Journal, Australasian Farm Business Management Network, vol. 4(1-2), pages 1-10.
    • Handle: RePEc:ags:afbmau:122233
    DOI: 10.22004/ag.econ.122233
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    References listed on IDEAS

    as
    1. Marsh, Sally P. & Pannell, David J., 2000. "Agricultural extension policy in Australia: the good, the bad, and the misguided," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 44(4), pages 1-23.
    2. Julian M. Alston & Philip G. Pardey, 1996. "Making Science Pay: The Economics of Agricultural R&D Policy," Books, American Enterprise Institute, number 53242, September.
    3. G. J. Stigler, 1972. "Perfect Competition, Historically Contemplated," Palgrave Macmillan Books, in: Charles K. Rowley (ed.), Readings in Industrial Economics, chapter 7, pages 105-130, Palgrave Macmillan.
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