Managing the Risks of Climate Variability in Australian Agriculture – Decision-making in agriculture under conditions of uncert

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Agriculture in Australia has always had to deal with an uncertain and volatile climate. Droughts and flooding rains have entered into folklore.

This RIRDC report summarises some contemporary management and market based approaches to the management of climate variability in Australian agriculture. The report also describes how the role of an adaptive management methodology, known as real options, can play in agriculture when faced with considerable uncertainty.

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