agistment market in the northern Australian rangelands: failings and opportunities
Agistment is the practice of temporarily moving stock between properties, and is used by pastoralists both to strategically develop their enterprises and as a response to environmental heterogeneities such as variation in rainfall. This paper considers the agistment market in the northern Australian rangelands using the 'market failure framework'. This form of economic analysis identifies failings in a market, thus, provides a rigorous basis for designing interventions intended to improve market performance.