Technological and financial approaches to risk management in agriculture: an integrated approach

In the present paper, risk-management problems where farmers manage risk both through production decisions and through the use of market-based and informal risk-management mechanisms are considered. It is shown that many of these problems share a common structure, and that a unified and informative treatment of a broad spectrum of risk-management tools is possible within a cost-minimisation framework, under minimal conditions on their objective functions. Fundamental results are derived that apply regardless of the producer's preference towards risks, using only the no-arbitrage condition that agricultural producers never forego any opportunity to lower costs without lowering returns.

Fragmented coherence: Solid waste management in Colombo

Notwithstanding the increasingly fragmented organizational relationships within Colombo's urban governance system, the cooperative nature of stakeholder relationships lends a high level of coherence to the overall system. Since 1995, Colombo's solid waste management system has been characterized by the increased role of the private sector, community-based organizations and NGOs. Whilst the increasingly fragmented nature of this system exhibits some deeply ingrained problems, there are also a number of positives associated with the increased role of civil society actors and, in particular, the informal sector. Reforming regulatory frameworks so as to integrate some of the social norms that are integral to the lives of the majority of urban residents will contribute to regulatory frameworks being considerably more enforceable than is currently the case. Such reform requires that institutional and regulatory frameworks need to be flexible enough to adapt to the changing social, political and economic context. In the Colombo case, effective cooperation between public sector and civil society stakeholders illustrates that adaptive institutional arrangements grounded in pragmatism are feasible. The challenge that arises is to translate these institutional arrangements into adaptive regulatory frameworks - something that would require a significant mind shift on the part of planners and urban managers.

A prospective multicentre study of pharmacist initiated changes to drug therapy and patient management in acute care government funded hospitals

Aims To determine the cost savings of pharmacist initiated changes to hospitalized patients' drug therapy or management in eight major acute care government funded teaching hospitals in Australia. Methods This was a prospective study performed in eight hospitals examining resource implications of pharmacists' interventions assessed by an independent clinical panel. Pharmacists providing clinical services to inpatients recorded details of interventions, defined as any action that directly resulted in a change to patient management or therapy. An independent clinical review panel, convened at each participating centre, confirmed or rejected the clinical pharmacist's assessment of the impact on length of stay (LOS), readmission probability, medical procedures and laboratory monitoring and quantified the resultant changes, which were then costed. Results A total of 1399 interventions were documented. Eight hundred and thirty-five interventions impacted on drug costs alone. Five hundred and eleven interventions were evaluated by the independent panels with three quarters of these confirmed as having an impact on one or more of: length of stay, readmission probability, medical procedures or laboratory monitoring. There were 96 interventions deemed by the independent panels to have reduced LOS and 156 reduced the potential for readmission. The calculated savings was $263 221 for the eight hospitals during the period of the study. This included $150 307 for length of stay reduction, $111 848 for readmission reduction. Conclusions The annualized cost savings relating to length of stay, readmission, drugs, medical procedures and laboratory monitoring as a result of clinical pharmacist initiated changes to hospitalized patient management or therapy was $4 444 794 for eight major acute care government funded teaching hospitals in Australia.

Effects of phosphorus on the growth and nitrogen fixation rates of Lyngbya majuscula: implications for management in Moreton Bay, Queensland

Significant acetylene reduction and therefore N-2 fixation was observed for Lyngbya majuscula only during dark periods, which suggests that oxygenic photosynthesis and N-2 fixation are incompatible processes for this species. Results from a series of batch and continuous-flow-culture reactor studies showed that the specific growth rate and N-2 fixation rate of L, majuscula increased with phosphate (P-PO4) concentration up to a maximum value and thereafter remained constant. The P-PO4 concentrations corresponding to the maximum N-2 fixation and maximum growth rates were -0.27 and -0.18 muM respectively and these values are denoted as the saturation values for N-2 fixation and growth respectively. Regular monitoring studies in Moreton Bay, Queensland, show that concentrations Of P-PO4 generally exceed these saturation values over a large portion of the Bay and therefore, the growth of the bloom-forming L, majuscula is potentially maximised throughout much of the Bay by the elevated P-PO4 concentrations. Results from other studies suggest that the elevated P-PO4 concentrations in the Bay can be largely attributed to discharges from waste-water treatment plants (WWTPs), and thus it is proposed that the control of the growth of L. majuscula in Moreton Bay will require a significant reduction in the P load from the WWTP discharges. If the current strategy of N load reduction for these discharges is maintained in the absence of substantial P load reduction, it is hypothesised that the growth of L, majuscula and other diazotrophs in Moreton Bay will increase in the future.

Effects of hatchery shading and nest depth on the development and quality of Chelonia mydas hatchlings: implications for hatchery management in Peninsular, Malaysia

One of the decisions made by hatchery managers around the world is what degree of shading and nest depth are required to maximise the production of high-quality hatchlings at optimal sex ratios. The primary objectives of this study were to determine the effects of (1) hatchery shading and nest depth on nest temperatures and emergence lag, and (2) nest temperatures and nest depth on hatchling sex ratio and quality. In 2001, 26 Chelonia mydas clutches from Ma'Daerah beach, Terengganu, Malaysia, were relocated alternatively at depths of 50 cm and 75 cm into a 70%-shaded and a 100%-shaded hatchery. Data loggers were placed into the centre of each relocated clutch to record the temperature every hour over the course of incubation. When the hatchlings emerged, a sample of the clutch was run, measured and weighed and a separate sample was examined histologically for sex characteristics. Nest temperatures ranged between 28 degrees C and 30 degrees C and generally showed increases over the second half of incubation due to metabolic heating of the clutch. There was no significant correlation found between nest temperature and any of the hatchling parameters measured. Hatchlings from 75-cm-deep nests had a longer emergence lag (46.4 (+/- 10.2) h) than hatchlings from 50-cm-deep nests. Hatch and emergence success were similar to those of natural populations and hatchling sex ratios were male dominant, with an average of 72% males. There was a poor correlation between mean middle-third incubation temperatures and sex ratio. Hatchlings from 75-cm-deep nests had similar running speeds but lower condition index than their conspecifics from 50-cm-deep nests.