摘要：Mullen, Alston and Wohlgenant (1989) (MAW) examined the distribution of thebene￠ts of technical change in the Australian wool industry. Their conclusions arerevisited by examining the probability distributions of changes in the welfaremeasures, given uncertainty about their model parameters. Subjective probabilitydistributions are speci￠ed for the parameters and correlations among some of theparameters are imposed. Hierarchical distributions are also used to model diverseviews about the speci￠cation of the subjective distributions. A sensitivity elasticityis de￠ned through the estimation of a response surface to measure the sensitivityof the estimated research bene￠ts to individual parameters. MAW's conclusionsare found to be robust under the stochastic approach to sensitivity analysisdemonstrated in this article.
