Fraser (1997) considered the impact of protein premiums and discounts on a grower's income stream and willingness-to-pay for a forward contract where the protein premium and discount system is centred on a grower's existing expected protein level. This article extends these results to consider...

The Environmental Stewardship Scheme provides payments to farmers for the provision of environmental services based on foregone agricultural income. This creates a potential incentive compatibility problem which, combined with information asymmetry about farm land potential, can lead to adverse...

"This paper examines the issue of incentive compatibility within environmental stewardship schemes, where incentive payments to farmers to provide environmental goods and services are based on foregone agricultural income. The particular focus of the paper is land heterogeneity, either of...