Output price subsidies in a stochastic world

Chambers, Robert G. and Quiggin, John (2005) Output price subsidies in a stochastic world. American Journal of Agricultural Economics, 87 2: 501-508. doi:10.1111/j.1467-8276.2005.00737.x

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Author Chambers, Robert G.
Quiggin, John
Title Output price subsidies in a stochastic world
Journal name American Journal of Agricultural Economics   Check publisher's open access policy
ISSN 0002-9092
1467-8276
Publication date 2005
Sub-type Article (original research)
DOI 10.1111/j.1467-8276.2005.00737.x
Volume 87
Issue 2
Start page 501
End page 508
Total pages 8
Editor B.W. Brorsen
C.B. Barrett
I.M. Sheldon
S.K. Swallow
Place of publication Cary, NC, United States
Publisher Oxford University Press
Collection year 2005
Language eng
Subject 340103 Mathematical Economics
720299 Microeconomic issues not elsewhere classified
Abstract This article studies the comparative statics of output subsidies for firms, with monotonic preferences over costs and returns, that face price and production uncertainty. The modeling of deficiency payments, support-price schemes, and stochastic supply shifts in a state-space framework is discussed. It is shown how these notions can be used, via a simple application of Shephard's lemma, to analyze input-demand shifts once comparative-static results for supply are available. A range of comparative-static results for supply are then developed and discussed.
Keyword Economics
Comparative-statics
Production And Price Uncertainty
Subsidies
Supermodularity
Agricultural Economics & Policy
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
2006 Higher Education Research Data Collection
School of Economics Publications
 
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Created: Wed, 15 Aug 2007, 07:34:09 EST