In recent years the CAP has undergone significant reforms, but the dairy sector has largely avoided wholesale changes. The sector, however, is now faced with a significant effort by the Commission to instigate reform. In this study the FAPRI-UK modelling system is simulated to identify the...

This paper tests whether the Law of Proportionate Effects (Gibrat, 1931), which states that farms grow at a rate that is independent of their size, holds for the dairy farms in Northern Ireland. Previous studies have tended to concentrate on testing whether the law holds for all farms. The...

The influence of buyer and personal relationship characteristics on agricultural land prices has received little attention in the literature. Recently, G.M. Perry and L.J. Robinson (2001) used a restricted nonlinear specification to model the influence of personal relationships (and other...

Economic theory suggests that coupled and decoupled direct payments have different impacts on agricultural rental values because of the different production responses associated with these payments. This study investigates the impact of both coupled and decoupled EU CAP direct payments on rental...

Successive Common Agricultural Policy (CAP) reforms and trade liberalisation have led to a more market-orientated European agricultural sector, with EU commodity prices now more closely linked to world prices. As a consequence EU prices have become more volatile. Greater price volatility...

In the Uruguay Round Agreement on Agriculture, so-called ‘blue box’ support measures were exempted from reduction commitments, provided they were delivered under ‘production-limiting’ programs. Although classified as ‘blue box’, the EU system of direct payments (DP) to beef farmers...

This paper examines farmers’ decision makingunder risk and uncertainty. In particular, the study identifies the type of risk preference (averse, neutral or seeking)and measures the magnitude of risk preference before and after the introduction of the Single Farm Payment (SFP). The analysis...

This paper examines farmers’ decision making under risk and uncertainty. In particular, the study identifies the type of risk preference (averse, neutral or seeking) and measures the magnitude of risk preference before and after the introduction of the Single Farm Payment (SFP). The analysis...