Generic income stabilization schemes, which resemble an actual NISA policy adopted recently in Canada, encourage farmers to set aside funds in high income year for use in low income years through a formal procedure. Their economic effects are investigated using the prudent farm household model....

Using the fact that separate markets exist for used and unused quota, this paper derives a formula to compute the marginal cost of the milk production using a competitive dynamic optimization model. It is showed that, under a perfect competitive quota market, the difference between unused quota...

Using the fact that separate markets exist for used and unused quota, this paper derives a formula to compute the marginal cost of the milk production using a competitive dynamic optimization model. It is showed that, under a perfect competitive quota market, the difference between unused quota...

When considering the possibility of a bioterrorist attack on the United States food system it is generally agreed that U.S. agriculture is vulnerable to such an attack. In addition to the importance of being able to predict the likelihood of such an event and thereby attempt to prevent it, it is...