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Cost Pooling in Australian Grain Handling: A Common Property Analysis

Author

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  • John Quiggin
  • Brian S. Fisher
  • Deborah C. Peterson

Abstract

The common property analysis of Rausser, Zusman, and Foster is expanded and applied to Australian grain transportation systems. With a conservative decision rule, a statically inefficient cost pooling system may lead to optimal investment decisions as benefits become pooled. With Ramsey pricing in contrast, losers may veto many investment decisions, so that allocations become ‘equitable’ but technically inefficient. Efficiency gains from price policy reform may not be achieved unless accompanied by property right reallocation.

Suggested Citation

  • John Quiggin & Brian S. Fisher & Deborah C. Peterson, 1994. "Cost Pooling in Australian Grain Handling: A Common Property Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 76(2), pages 262-269.
    • Handle: RePEc:oup:ajagec:v:76:y:1994:i:2:p:262-269.
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    File URL: http://hdl.handle.net/10.2307/1243627
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    Cited by:

    1. Watson, Alistair S., 1996. "Principles of Grain Marketing: Some Lessons from Australian Experience," Technical Reports 113821, Australian Centre for International Agricultural Research.

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