Failure of integrability is shown to cause path-dependence of willingness-to-pay measures of welfare change. Using the linear expenditure system, effects of failure of integrability are negligible (substantial) for estimating income (price) elasticities. For single price changes, Hausman's...

We evaluate the importance of the competitiveness and productive efficiency of the food processing sector for predicting policy outcomes, and the sector's performance under selected government interventions. Our model is based on firm-level decisions and focuses explicitly on the effects of...

The EU has argued that some agricultural subsidies are needed to provide the optimal amount of externalities (both positive and negative) produced by agriculture. The argument is that agriculture is "multifunctional" and externalities such as rural development and landscape would be...

The impressive growth in land conservation by the private sector, primarily by land trusts, has resulted from a number of policies that subsidize such activity. These include federal income and estate tax benefits, and state income and property tax benefits. We model the equilibrium in the...

Production contracts are increasingly important in American agriculture. Unfortunately, little is known about the fundamental forces governing their adoption and design. In order to better-understand the underlying incentives, we construct and test an agency-theoretic model of broiler production...

In this paper we present a continuous time optimal control analysis of resistance buildup in agricultural chemicals when the supplier is a monopolist. We compare the monopolistic, competitive and socially optimal solutions after establishing the stability of each equilibrium. The central finding...

In this paper, we model the trade-off between equity and efficiency in a market for a resource when users of that resource are heterogeneous. We develop the analytical model, and show that under certain circumstances efficiency can be achieved in a manner that also reduces inequality. We also...

This paper derives a method to quantify the short- to medium-run impact of biofuel on fuel markets, assuming that these markets are dominated by cartel of oil-rich countries, and that prices in these countries are set to maximize the sum of domestic consumer and producer surplus, leading to a...

Traditionally, disaster assistance was available on an ad hoc basis, but the 2008 Farm Act provides a standing disaster assistance program known as Supplemental Revenue Assistance (SURE). This paper introduces a theory of nested insurance to evaluate the impact on of SURE on intensification,...