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The Opportunity Cost Criterion for Land Allocation

Author

Listed:
  • Hitchens, M.T.
  • Thampapillai, Dodo J.
  • Sinden, Jack A.

Abstract

The present trend to more quantitative analysis for public decisions on land allocation has included studies based on the opportunity cost criterion. This encouraging trend could be promoted through improved use of the criterion. Two important improvements are the analysis of uncertainty and the generation and analysis of a whole schedule of land use plans. The paper illustrates these improvements through empirical application of linear programming to two land use problems in New South Wales.

Suggested Citation

  • Hitchens, M.T. & Thampapillai, Dodo J. & Sinden, Jack A., 1978. "The Opportunity Cost Criterion for Land Allocation," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), pages 1-19, December.
    • Handle: RePEc:ags:remaae:10301
    DOI: 10.22004/ag.econ.10301
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    References listed on IDEAS

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    1. Cassidy, P.A. & Rodgers, J.L. & McCarthy, W.O., 1970. "A Simulation Approach to Risk Assessment in Investment Analysis," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 38(01), pages 1-22, March.
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    Cited by:

    1. Rehman, Tahir & Romero, Carlos, 1987. "Multiobjective and Goal Programming Techniques for Solving Agricultural Planning Problems," 1987 Occasional Paper Series No. 4 197536, International Association of Agricultural Economists.
    2. Skold, Melvin D., 1987. "Agricultural Price Policies, Policy Goals, and Methods of Estimating Costs of Production," 1987 Occasional Paper Series No. 4 197533, International Association of Agricultural Economists.
    3. Julio Berbel & Julio Gallego & Horacio Sagues, 1991. "Marketing goals vs. business profitability: An interactive multiple criteria decision-making approach," Agribusiness, John Wiley & Sons, Ltd., vol. 7(6), pages 537-549.

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    Keywords

    Land Economics/Use;

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