Replaced with revised version of paper 08/25/03.

Owing to the fundamental importance of food to human welfare and of climate to crop and livestock production, agriculture has been a focus of research on the impacts of climate change and variability. This research has been largely concerned with implications for the supply and cost of food and...

This paper employs the production function-based method proposed by Just and Pope (1978, 1979) to explicitly analyze production risk in the context of Chinese grain farming and climate change, and test for a potential endogeneity of climate factors in Chinese grain production. Our results...

There is considerable interest in the use of pollution trading between point and nonpoint sources to improve the cost-effectiveness of water pollution control, but little literature to guide the design of trading systems involving nonpoint sources. We explore the design of two types of trading...

Agricultural agencies have long offered agri-environmental payments that are inadequate to achieve water quality goals, and many state water quality agencies are considering point-nonpoint trading to achieve the needed pollution reductions. This analysis considers both targeted and nontargeted...

In addition to supplying food and fiber, agriculture is a source of public goods and externalities. This article addresses two questions. First, do price and income support policies promote a multifunctional agriculture in an effective manner? Second, would policies targeted more directly at...

Drawing on the method developed by Just and Pope (1978, 1979), this paper separately analyzes the marginal contributions of both regular input factors and climate factors to mean output and to production risk in Chinese inland aquaculture. Furthermore, the net change in output following a 1°C...

Drawing on the method developed by Just and Pope (1978, 1979), this paper separately analyzes the marginal contributions of both regular input factors and climate factors to mean output and to production risk in Chinese inland aquaculture. Furthermore, the net change in output following a 1°C...

Although significant research has been done on managing farmers’ financial risk through federal programs such as federal crop insurance, to date, little attention has been paid to the ability of on-farm management’s potential to mitigate agricultural risk. Federal crop insurance could...