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Agri‐environmental schemes (AESs) are increasingly implemented to promote the adoption of environmentally friendly practices by farmers. We use a systematic review to explore the role of behavioural factors and opportunity costs in farmers' decisions to participate in AESs in Australia, Europe and North America. Behavioural factors influence how farmers value and perceive options, while opportunity costs relate to farmers' forgone utility when choosing to participate in schemes. We synthesise insights from 79 articles and over 700 factors explaining the participation in AESs. We find that a set of behavioural factors seem consistently connected to participation, including agricultural training, advice and having positive attitudes towards AESs. Moreover, several factors related to opportunity costs also have a rather consistent relationship with AES participation, including market conditions, implementation efforts, profitability, and management and contract flexibility. However, many relationships of behavioural factors and opportunity costs with AES participation are not as consistent and generalizable as sometimes portrayed and require context‐specific interpretation. Those factors with mixed results can still provide insights into farmers' participation decisions as several of them are either 'positively and insignificantly' or 'negatively and insignificantly' related to participation, such as environmental attitude, trust and farm size. These results suggest that their relationship with AES participation depends on other factors or the setting, highlighting interactions and raising important new research questions. Overall, our results provide several entry points for both researchers and policy‐makers, highlighting uncertainties in relationships between factors and participation that should be considered when designing policies. [ABSTRACT FROM AUTHOR]

Irrigated rice is the largest user of precious global water reserves. Adoption of water-saving irrigation practices is limited by the associated increased labor demand compared to flooded rice cultivation. Automated gravity surface irrigation systems have shown the potential to deliver significant labor savings in traditional flooded rice; however, widespread adoption does not seem apparent. Furthermore, previously designed systems have not been capable of irrigation control during both ponded and non-ponded periods. This study aimed to evaluate the performance of an automated irrigation system for rice with features not previously developed, provide direction for future systems and analyze the opportunity cost (the value of other on- or off-farm activities that could be conducted with that time) of time associated with automated irrigation. The automated irrigation system was found to successfully control 23–31 flush-irrigation events per bay per season in a 9-bay border-check aerobic rice field for 2 seasons. In addition, successful water control was achieved in a traditional drill-sown field with 4 flush irrigations followed by 15 weeks of permanent flooding. Labor savings of 82–88% during the flush-irrigation events and 57% during the ponding period were achieved with automation when compared to manual irrigation. However, the opportunity cost of the saved time was found to comprise the greatest benefit. Changing the analysis from using a flat "cash" cost of time to using opportunity cost of time reduced the payback period from seven to four years at the traditional ponded-rice site. In the more labor-intensive aerobic rice site, the payback period was reduced from three years to one year when accounting for the opportunity cost of time as opposed to only the direct costs. Whilst the payback period is site-dependent and cultivation method-dependent, these case studies demonstrate that automated gravity surface irrigation can enable novel water-saving practices in rice and provide substantial economic benefits. [ABSTRACT FROM AUTHOR]

Sheep stocking rate influences farm profit significantly; however determining the optimal stocking rate is a difficult task. In this paper, we address this challenge through three main steps. First, we review the definition of stocking rate; second, we examine prior research relevant to the review topic and highlight the factors that need to be considered when determining the optimal stocking rate; and third, we make recommendations for improvements in research on establishing the optimal sheep stocking rate. Inconsistency in the definition of stocking rate can lead to miscommunication among researchers, advisers and farmers. If 10 dry sheep equivalents (DSE)/ha is optimal for one flock, it may not be optimal for another flock because the DSE measure does not fully capture the nuances of different patterns of nutritional requirements among sheep classes and feed availabilities and their respective prices and costs. The optimal stocking rate occurs when the marginal economic benefit of an additional animal equals its marginal cost. Determining this point requires an understanding of the quantity and quality of feed available throughout the year, the optimal liveweight profile throughout the year, the impact of seasonal variation, the impact of labour availability, the cost of alternative feeds, prices of livestock and livestock products, the risk preferences of the farmer, and any emission policies relating to greenhouse gases. Farmers tend to use their own judgement to set their stocking rates, with the aim of maximising utility. However, the complexities listed make it a challenging task. Thus, researchers have used various simulation and programming models to aid decision-making over optimal stocking rates, but most farmers continue to rely on their own personal judgement. Moreover, often a focus of this modelling is for sheep systems in eastern Australia. Generalising this research across Australia is difficult due to differences in climatic conditions and markets across Australia. Often farmers are unaware of the profits they are foregoing when choosing either an overly conservative or excessive stocking rate. Our research has shown that foregone income of up to AUD50 per hectare can occur when a stocking rate 30% below or above the optimum is selected. Thus, despite the complexities that underpin the stocking rate decision, we believe that there are potential rewards from further research on the optimisation of stocking rates. [ABSTRACT FROM AUTHOR]

Background: COVID‐19 caused significant disruptions to health systems globally; however, restricting the family presence during birth saw an increase in women considering community birth options. This study aimed to quantify the hospital resource savings that could occur if all low‐risk women in Australia gave birth at home or in birth centers. Methods: A whole‐of‐population linked administrative data set containing all women (n = 44 498) who gave birth in Queensland, Australia, between 01/07/2012 and 30/06/2015 was reweighted to represent all Australian women giving birth in 2017. A static microsimulation model of woman and infant health service resource use was created based on 2017 data. The model was comprised of a base model, representing "current" care, and a counterfactual model, representing hypothetical scenarios where all low‐risk Australian women gave birth at home or in birth centers. Results: If all low‐risk women gave birth at home in 2017, cesarean rates would have reduced from 13.4% to 2.7%. Similarly, there would have been 860 fewer inpatient bed days and 10.1 fewer hours of women's intensive care unit time per 1000 births. If all women gave birth in birth centers, cesarean rates would have reduced to 6.7%. In addition, over 760 inpatient bed days would have been saved along with 5.6 hours of women's intensive care unit time per 1000 births. Conclusions: Significant health resource savings could occur by shifting low‐risk births from hospitals to home birth and birth center services. Greater examination of Australian women's preferences for home birth and birth center birth models of care is needed. [ABSTRACT FROM AUTHOR]

Australia's expensive housing market is often claimed to be primarily the result of a shortage of supply due to town planning constraints, leading to political pressure on councils and state governments to remove planning regulations, regardless of their planning merit. We argue that this supply story is a myth and provide evidence against three key elements of the myth. First, there has been a surplus of dwellings constructed compared to population demand, rather than a shortage. Second, planning approvals typically far exceed dwelling construction, implying that more approvals or changes to planning controls on the density and location of development cannot accelerate the rate of new housing supply. Third, large increases in the rate of housing supply would have small price effects relative to other factors, like interest rates, and come with the opportunity cost of forgone alternative economic activities. Indeed, if the story were true, then property developers would be foolishly lobbying for policy changes that reduce the price of their product and the value of the balance sheets, which mostly comprise undeveloped land. [ABSTRACT FROM AUTHOR]

Aim: To quantify the direct out‐of‐pocket patient co‐payments and time opportunity costs (length of hospital stay) incurred by Indigenous and non‐Indigenous persons diagnosed with cancer during the first year postdiagnosis. Methods: CancerCostMod was used, which is a model of cancer costs based upon a whole‐of‐population data linkage. The base population was a census of all persons diagnosed with cancer in Queensland, Australia between 1 July 2011 and 30 June 2012 (n = 25,553). Individual records were linked to corresponding Queensland Health Admitted Patient Data Collection, Emergency Data Information System, Medicare Benefits Schedule, and Pharmaceutical Benefits Scheme records between 1 July 2011 and 30 June 2015. Queensland data were weighted to be representative of the Australian population (approximately 123,900 Australians, 1.7% Indigenous Australians). Results: After adjusting for age, sex, rurality, area‐based deprivation, and cancer group, Indigenous Australians accrued significantly less in postdiagnosis patient co‐payments at 0–6 months (61% less) and 7–12 months (63% less). Indigenous Australians also had significantly fewer postdiagnosis hospitalizations at 0–6 months (21% fewer) and 7–12 months (27% fewer). Conclusion: There is growing concern regarding the financial burden of cancer to the patient. The time spent away from family and their community may also have an important time opportunity cost, which may affect a person's decision to undertake or continue treatment. This is the first study in Australia to identify the financial cost of co‐payments for Indigenous people with cancer, as well as the number and length of hospitalizations as drivers of time opportunity costs. [ABSTRACT FROM AUTHOR]

The decreasing cost of solar photovoltaic (PV) and wind power technologies makes 100% renewable energy systems economically viable. Building more capacity to mitigate periods of low solar and wind supply results in systems that produce surplus energy at other times. As these surpluses vary across time and space, it becomes crucial to map their geographic distribution and quantify their magnitude. This paper presents the largest geographic and longest time series analysis of oversizing solar PV and wind in the context of the Australian National Electricity Market. We examine the additional solar, wind and battery capacity required to meet 100% of demand between 2010 and 2020. Without battery storage, this is achieved by generating approximately four times demand at an average production cost 28% lower than recent wholesale electricity prices. The addition of 1–8 h of storage reduces the average production cost by 55% compared to recent prices. Our analysis also investigates the spatiotemporal characteristics of surplus energy generation under different scenarios. We identify which regions are most suitable for the expansion of industrial, commercial, and business operations using surplus renewable generation. [ABSTRACT FROM AUTHOR]

Introduction: Gastrostomy insertion either via radiological (radiologically inserted gastrostomy, RIG) or endoscopic (percutaneous endoscopic gastrostomy, PEG) approaches are widely practiced throughout Australia. The purpose of this study was to compare outcomes of inserted tubes and cost evaluation by both methods.Methods: A retrospective cohort study conducted on all-cause gastrostomy insertions at a quaternary Australian Hospital, Royal Brisbane and Womens' Hospital (RBWH) between January 2012 and August 2015. Current referral pattern is first-line gastrostomy and second-line radiological insertion.Results: A total of 402 gastrostomy tubes were inserted with a total of 307 PEG tubes and 95 RIG tubes, with follow-up to one calendar year. Mean patient age was 61 years ± 14.2 years with 76% male patients. A total of 84% of patients were head and neck cancer patients; major indications for insertion include prophylaxis (58%), dysphagia (32%) and NBM (2.5%). Patient groups were heterogeneous with varied indications for insertion including prophylaxis, dysphagia, decompression, NBM and treatment side effects. Outcomes measured included the following: complications, premature tube failure prior to expected removal and, overall tube outcome/ disposition. A lower incidence of minor complications was observed with the RIG group than the PEG group without differences in major complications over time. Tube failure due to either blockage or dislodgement was assessed. Multivariate analysis of all-cause dislodgement found 'method of insertion' a predictor of dislodgement with RIG 5.4(OR) times more likely to be dislodged than PEG. Competing risk analysis demonstrates equipment as a significant cause of dislodgement occurring more commonly with RIG than PEG tubes. Tubes were removed more often in the PEG group because a large volume were prophylactic. Tubes were replaced more often in the RIG group, with tube blockage and equipment as causes for tube replacement in this group. Replacements occur either in suite or bedside. Costing data were limited with only 94 patients' costing data qualifying for a limited unit cost evaluation, with radiologically inserted tubes marginally more expensive than tubes inserted endoscopically.Conclusions: Both are safe procedures, with improved techniques; radiologically inserted gastrostomies have an improved profile with respect to dislodgement rates than previously reported in the literature. Radiological tubes remain limited by equipment factors with balloon failure an ongoing issue. Cost analysis was hindered by poor documentation; however, the opportunity cost remains an important advantage of radiological insertion at peripheral sites, increasingly relevant for health service delivery in our geographically vast state. [ABSTRACT FROM AUTHOR]

Abstract: The paper analyses the benefits and costs of the Coral Sea Marine Reserve which, together with the contiguous Great Barrier Reef World Heritage Area, creates the largest marine protected area in the world. The benefits are found to be minimal, in both anthropocentric and ecocentric terms. Nevertheless establishment and management costs could be in the order of $A20 million and $A13 million, respectively. Meanwhile, serious depletion of the vital fish stocks of the largest tuna fishery in the world in the Western and Central Pacific Ocean—in which Australia is a management partner—continues, as does the rapid erosion of the unique and outstanding values of the Great Barrier Reef. It is concluded that current investment in the creation and management of the Coral Sea Reserve—in the face of the demonstrably urgent needs for investment in the management of marine resources in the near region and in Australia – is problematic. [Copyright &y& Elsevier]

Abstract: The focus of the research reported in this paper has been to estimate recreation values for beaches over approximately 1,400 km (km) of coastline along the Queensland coast. The study is notable at an international level because it assesses recreation values to a general type of recreation asset rather than to a specific site, and because it focuses on the values of the local resident population. Negative binomial models have been used to estimate both the visit rate and recreation values associated with beach visits in different regional areas. The value of a single beach visit was estimated per person at $35.09, which extrapolates to $587.3 million in beach recreation values per annum. These values are likely to be conservative because opportunity costs incurred to live closer to the beach (e.g. housing premiums) have not been assessed. Contingent behaviour models were used to estimate the values of potential declines in water quality, with marginal effects assessed at $1.30 per recreation trip to avoid each 1% decline in water quality. [Copyright &y& Elsevier]

For almost three decades, the Australian Treasury has issued an annual 'tax expenditure statement' detailing concessions in Australia's tax laws. It was originally argued that tax expenditure budgets (the international term for these statements) would lead to simpler laws with fewer and better targeted concessions. This clearly has not happened in Australia, as tax laws have become more complex and tax concessions less efficient since the tax expenditure budget concept was accepted in Australia. The problem is not with the concept itself but rather with its execution. In particular, Australia has copied a United States model - a model that may be very inappropriate in the context of Australian tax jurisprudence. In Australia, many tax concessions that give rise to uncertainty and complexity have not been introduced explicitly by the legislature but rather result from judicial doctrines that have been implicitly endorsed in the design of the tax law. Tax expenditure analysis will not yield better outcomes until it is extended to these implicit tax expenditures. [ABSTRACT FROM AUTHOR]

In May 2004, the Australian government announced a 'Baby Bonus' policy, paying women an initial A$3,000 per new child. We use household panel data from the Household, Income and Labour Dynamics in Australia Survey ( N = 14,932) and a simultaneous equations approach to analyze the effects of this bonus on fertility intentions and ultimately births. The results indicate that opportunity costs influence intentions and births in predictable ways. Fertility intentions rose after the announcement of the Baby Bonus, and the birth rate is estimated to have risen modestly as a result. The marginal cost to the government for an additional birth is estimated to be at least A$126,000. [ABSTRACT FROM AUTHOR]

The need for public investment to address loss of biodiversity in agricultural landscapes is well recognised, yet there is little analysis of the likely benefits of land-use change for regional biodiversity or the cost effectiveness of different investment options. We estimated benefits for biodiversity and cost effectiveness of different investment scenarios over 50 years for a farming area in south-eastern Australia. Declines in biodiversity were predicted under status quo land use. Implementing actions in the investment scenarios improved biodiversity status only slightly, compared with status quo land use. Future biodiversity status differed little between biodiversity-focused investment and salinity-focused investment. Biodiversity status equalled or exceeded current status only for investment scenarios with much more extensive revegetation than in catchment targets. Cost effectiveness of biodiversity improvement varied greatly between investment strategies. Biodiversity improvement was more cost effective when investment to meet catchment targets was focused on revegetation for salinity management rather than on high conservation value areas, because of lower opportunity costs for salinity management. With enhanced investment, the cost effectiveness of biodiversity improvement was greater when actions were in high conservation areas. Although improvements in biodiversity were small under the changed farming system scenarios, their cost effectiveness was higher than the other investment scenarios. Regional scale improvements in biodiversity in farming areas will require increased stewardship payments or other economic incentives for landholders. [ABSTRACT FROM AUTHOR]

The term "event travel career" describes how highly involved and/or committed persons pursue a career of travel to organized events linked to their preferred leisure activity. The introduction of this significant, discretionary social role may lead to individuals experiencing dilemmas in prioritizing between day-to-day needs and desires and those of their event travel career. This article discusses how the concepts of competing priorities and opportunity costs are useful in understanding constraints faced by serious leisurists pursuing an event travel career. The sport of triathlon was chosen as a context in which to examine these concepts. A textual analysis of postings to an Australian online forum for triathletes was undertaken over 4 weeks. The data supported the contention that persons who train for and travel to triathlon events face significant resource-related constraints in the form of competing priorities. Three domains where the triathletes encountered competing priorities in their lives were identified: intrapersonal, interpersonal, and structural. In terms of negotiating constraints presented by their competing priorities, the triathletes appeared willing to accept a range of opportunity costs in order to maintain momentum in their event travel career. This study contributes to enhancing knowledge regarding constraints faced by serious leisurists in a tourism context, and also in understanding the broader implications of constraints negotiation at the individual level. [ABSTRACT FROM AUTHOR]

We investigated the extent to which relationship status and age at birth explain the education gradient in whether a woman's pregnancy leading to her most recent birth was intended or not. Our data came from wave 5 (2005) of the Household Income and Labour Dynamics in Australia survey (HILDA) (n = 1,751). We found an education gradient in intended births, where less educated women were more likely to report an unintended most recent birth. Part of this was explained by the fact that less educated women were younger when they give birth and less likely to be married--characteristics predictive of unplanned births. To better understand education differences in having unintended births further research needs to focus on the role played by education differences in abortion and contraceptive behaviour. [ABSTRACT FROM AUTHOR]

Virtual water is the volume of water used to produce a commodity or service. Hitherto, most virtual water ‘trade’ studies have focused on its potential contribution to saving water, especially in water short regions. Very little, however, has been said about the opportunity cost of the associated water. The present research critically evaluates the strategic importance of green water (soil water originating from rainfall) in relation to international commodity trade. Besides having a lower opportunity cost, the use of green water for the production of crops has generally less negative environmental externalities than the use of blue water (irrigation with water abstracted from ground or surface water systems). Although it is widely known that major grain exporters – the USA, Canada, France, Australia and Argentina – produce grain in highly productive rain-fed conditions, green water volumes in exports have rarely been estimated. The present study corroborates that green water is by far the largest share of virtual water in maize, soybean and wheat exports from its main exporting countries (USA, Canada, Australia and Argentina) during the period 2000–2004. Insofar virtual water is ‘traded’ towards water-scarce nations that heavily depend on their blue water resources, green virtual-water ‘trade’ related to these commodities plays a role in ensuring water and water-dependent food security and avoiding further potential damage to the water environments in both importing and exporting countries. This potential of international green virtual-water ‘trade’, however, is constrained by factors such as technology, the potential for further increases in the productivity of soil and irrigation water, the level of socio-economic development, national food policies and international trade agreements. [Copyright &y& Elsevier]

Abstract: We discuss the role and characteristics of water markets in Australia in facilitating efficient water allocation. Administrative, regulatory and/or political barriers to effective functioning of water markets are reviewed with a focus on the southern Murray-Darling Basin (MDB) region of Australia. A mathematical model is developed to estimate the costs of existing restrictions and the benefits from potential changes in water markets (e.g., removing barriers in temporary water markets). The modelling results reveal that expanding trade leads to an increase in mean annual net returns from AU $2502 million to AU $2590 million (i.e., an increase of AU $88 million). When the current volume restrictions, exchange rates, and trading charges are accounted for, mean annual net returns reduced from AU $2590 million to AU $2573 million (i.e., a reduction of AU $17 million). The exclusion of any of the three southern MDB states from the interstate water trading imposes significant costs. If South Australia, New South Wales or Victoria withdraws from the water market, net returns are reduced by AU $27 million, AU $31 million and $63 million, respectively. The paper outlines the policy implications of strategies to remove market barriers and to facilitate efficient and effective water trading. [Copyright &y& Elsevier]

A simple scenario and modelling approach to farm design was used to investigate the potential for improving on-farm conservation outcomes in three mixed grain–livestock farms in eastern Australia. With an increasing emphasis on multiple benefits from land management in agricultural landscapes, and current policy frameworks governing natural resource management and agriculture in Australia, much of the cost of conservation is expected to be borne by farmers. This is especially so in terms of production opportunity costs, which go largely unrecognised (and uncosted) in landscape planning. Simple landscape ecology design principles were applied to existing farm configurations in a scenario process to improve protection and connectivity of natural parts of the landscape, and the direct (infrastructure) and indirect (loss of production) costs were calculated. A 3 stage approach was taken to develop scenarios: (1) identify major threatening processes and mitigating actions to prevent further decline in natural resources; (2) identify opportunities for enhancing landscape configuration in respect of the landscape ecology principles outlined below; and (3) explore agricultural opportunities to offset financial losses to conservation. Depending on the specific agricultural activity mix and ecological condition of farms, small changes to the production base can have large impacts on farm enterprise profitability. Modelled economic impacts show that there are substantial opportunity income losses from applying conservation-based scenarios, and that there are limited opportunities to offset these with changed farming practices that do not create other environmental problems. [Copyright &y& Elsevier]

In recent times a number of countries have initiated some important tax reforms to eliminate the distortions of double taxation. In this context, Australia adopted a dividend imputation system in 1987, while the US employed the 1986 Tax Reform Act (TRA). The analysis in this paper examines the effects on the level of corporate capital investment, on proxies for corporate tax rates, financial leverage, liquidity, capital intensity and firm size after controlling for the tax reforms. The empirical results provide evidence that: (1) dividend imputation as introduced in Australia is an effective way to reduce the distortions caused by the traditional system of taxation. (2) Compared with the TRA, dividend imputation has been better able to positively stimulate corporate capital investment. (3) TRA effect on corporate investment is more pronounced in the US for firms having a net operating loss. (4) Individual tax rates play a role in corporate investment decisions in both the US and Australia. [ABSTRACT FROM AUTHOR]

Increasing salt concentration in tributaries from catchments and rising water tables are the prime contributor to environmental degradation of rivers, creeks, streams or other water bodies. This is especially true during periods of mid-and low stream flows in arid and semi-arid regions around the globe. Catchment scale studies suggest that management of stream salinity requires greater land use change than is economically viable. Therefore, rather than focusing on the opportunity cost of catchment scale interventions, exploring interventions that are potentially viable at farm scale could be an appropriate strategy for stream salinity management. This paper presents an analysis of alternative on-farm strategies, such as evaporation ponds and serial biological concentration of salts, aimed at developing an economically self-sustainable stream salinity management system for the Box Creek stormwater escape channel located in the Murray-Darling Basin (MDB), Australia. It is concluded that irrigation areas, with careful management of flows in tributary streams, may be able to play a role in safeguarding the Murray River against further salinisation from irrigation and dryland areas. The outcomes of this paper will be helpful, but not limited to, the MDB in addressing environmental, economic and social issues associated with management of salt concentration in tributaries. [ABSTRACT FROM AUTHOR]

Becker and Murphy's (1988) theory of rational behavior suggests that economic factors play an influential role in the decision leading to drug consumption and possibly dependence. Psychological models, on the other hand, emphasize internal regulatory cues that motivate drug use and play a contributory role in dependence. Until now, the confluence of both economic and psychological models has not been tested empirically. The present study used latent-variable structural equation modeling (SEM) to examine the influence of both economic (social anomie, unit price, and time spent acquiring drugs) and psychological risk factors (motivation, depression, and sexual risk behaviors) on self-reported ecstasy use. Data were obtained from 612 recreational ecstasy users in the United States and Australia participating in a NIDA-funded epidemiological study examining trends in ecstasy use. The sample was mainly white (61%), male (58%), and young (mean age = 23yrs [5.25]). All of the hypothesized latent constructs were statistically reliable and correlated in the expected direction. A saturated SEM indicated that monetary and opportunity cost, but not income, significantly predicted ecstasy use. Among the psychological measures, motivational cues were the strongest predictor of both use and dependence. Inclusion of gender, age, race, education, and site variables did not appreciably alter the final model parameters. The implications of incorporating the role of economic factors in shaping a more refined understanding of addiction are discussed. Suggestions for future research and study limitations are also noted. [ABSTRACT FROM AUTHOR]

This paper explores how information and communication technology has influenced Australia’s productivity performance in the 1990s, drawing on research undertaken by the Australian Department of Communications, Information Technology and the Arts. The research uses four different approaches to assess the robustness of earlier Australian research. All approaches point to the fact that the impact of ICT on Australian productivity is greater than previously thought. Of the approaches, the GPT modelling appears to offer the greatest potential to meet the further policy challenges in a transition to an information society. [ABSTRACT FROM AUTHOR]

The objective of this study was to predict the number of cases of pressure ulcer, the bed days lost, and the economic value of these losses at Australian public hospitals. All adults (≥ 18 years of age) with a minimum stay of 1 night and discharged from selected clinical units from all Australian public hospitals in 2001–02 were included in the study. The main outcome measures were the number of cases of pressure ulcer, bed days lost to pressure ulcer, and economic value of these losses. We predict a median of 95,695 cases of pressure ulcer with a median of 398,432 bed days lost, incurring median opportunity costs of AU$285 M. The number of cases, and so costs, were greatest in New South Wales and lowest in Australian Capitol Territory. We conclude that pressure ulcers represent a serious clinical and economic problem for a resource-constrained public hospital system. The most cost-effective, risk-reducing interventions should be pursued up to a point where the marginal benefit of prevention is equalized with marginal cost. By preventing pressure ulcers, public hospitals can improve efficiency and the quality of the patient's experience and health outcome. [ABSTRACT FROM AUTHOR]

Abstract--We find evidence from Australian time-series data supporting two hypotheses about the determination of labour absence. First, labour absence modeled in a utility-maximising framework which stresses the opportunity cost of labour absence receives considerable support from the data Variables which change the slope and/or shift the budget constraint facing workers affect labour absence. Secondly, we find tentative evidence that coercive or difficult work environments which apparently affect Job satisfaction adversely affect labour absence. In particular, it appears that labour absence is a leading indicator of a deteriorating industrial relations environment characterised by increased industrial disputation. [ABSTRACT FROM AUTHOR]

In earlier work, using the Granger (1969, 1980) notion of causality couched in terms of post-sample predictability, Layton (1983) found prima facie statistical evidence to support the notion that US monetary growth may be regarded as a leading indicator of Australian monetary growth. However, that study was bivariate in nature and did not take into consideration the influence on Australian monetary growth of any domestic factors. Using the same causality concept, the present analysis extends this work by conducting the causality testing in the trivariate context, taking explicit account of the influence of domestic income growth in determining Australian monetary growth. The evidence continues to support the earlier finding that US monetary growth is Granger-causal to Australian monetary growth. [ABSTRACT FROM AUTHOR]

Determines the social opportunity cost of consumption (SOCC) for Australia using overseas interest rates. Influence of SOCC in socially optimal levels of investment and current account surplus; Introduction to the development of the SOCC concept; Adjustment of the nominal interest rates for imperfect foresight; Mean value for the SOCC from 1960-61 to 1988-89.

• Redleg banana prawns are caught in a remote part of the northern prawn fishery. • Fishing effort on the species has varied considerably in recent years. • We model the key drivers of fishing effort on the sub-fishery. • We find that economic conditions in the main part of the fishery is a key driver. Recent low levels of fishing effort in the redleg banana prawn (Penaeus indicus) component of the Australian Northern Prawn Fishery have highlighted challenges in assessing the stock status of the species and deriving appropriate management responses. Usually, low levels of fishing effort are associated with low stock abundance, but economic factors also affect fishing activity. In this study, we consider the key drivers of fishing effort in the sub-fishery, and conclude that fishing effort is driven by expectations of catch based on environmental drivers, realised revenue per unit of fishing effort, and the opportunity cost of fishing in other areas. In the case of the recent low effort levels, it is the opportunity cost that has been most influential, highlighting the importance of considering economic drivers when managing fisheries. [ABSTRACT FROM AUTHOR]

The article discusses a study on the opportunity cost associated with the lack of available surgical instruments in Australian hospitals. Unavailability of surgical instruments is regarded as one of the most common causes of perioperative delay, which entail significant costs for hospitals. Result reveals opportunity costs extend across the instrument usage and processing life cycle, suggesting the implementation of effective programmes to reduce occurrence of unavailable instruments.