| Abstract: | 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. |
