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Registros recuperados: 149 | |
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Newell, Richard G.; Pizer, William A.. |
Using a simple analytical model incorporating benefits of a stock, costs of adjusting the stock, and uncertainty in costs, we uncover several important principles governing the choice of price-based policies (e.g., taxes) relative to quantity-based policies (e.g., tradable permits) for controlling stock externalities. Applied to the problem of greenhouse gases and climate change, we find that a price-based instrument generates several times the expected net benefits of a quantity instrument. As in Weitzman (1974), the relative slopes of the marginal benefits and costs of controlling the externality continue to be critical determinants of the efficiency of prices relative to quantities, with flatter marginal benefits and steeper marginal costs favoring... |
Tipo: Working or Discussion Paper |
Palavras-chave: Stock; Externality; Regulation; Policy; Uncertainty; Price; Quantity; Tax; Tradable permit; Pollution; Climate change; Greenhouse Gas; Instrument choice; Risk and Uncertainty; Q28; D81; C61. |
Ano: 2000 |
URL: http://purl.umn.edu/10471 |
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Bougherara, Douadia; Gassmann, Xavier; Piet, Laurent. |
We designed a field experiment involving real payments to elicit farmers’ risk preferences. Farmers are a very interesting sample to study since risk has always played an important role in agricultural producers’ decisions. Besides, European farmers may face more risky situations in the future. In this context, it is very important for any economic analysis focusing on agriculture to correctly assess farmers’ behaviour in the face of different sources of risk. We test for two descriptions of farmers’ behaviour: expected utility and cumulative prospect theory. We use two elicitation methods based on the procedures of Holt and Laury (2002) and Tanaka et al. (2010) on a sample of 30 French farmers. The experiment consists in asking subjects to make series of... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Risk Attitudes; Field Experiment; Farming; Risk and Uncertainty; C93; D81; Q10. |
Ano: 2011 |
URL: http://purl.umn.edu/114266 |
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Patrick, George F.; Peiter, Amy J.; Knight, Thomas O.; Coble, Keith H.; Baquet, Alan E.. |
Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects on ratings of both sources of risk and effectiveness of risk management strategies. Probit analysis found age, prior attendance, knowledge and prior use of the tool, level of integration, and concern about price and performance risk have significant effects on interest in further education about production contracts, futures and options, packer marketing contracts, and financial management. |
Tipo: Journal Article |
Palavras-chave: Financial management; Futures and options; Packer marketing contracts; Production contracts; Risk attitudes; Risk management; D81; D83; Q12; Q16. |
Ano: 2007 |
URL: http://purl.umn.edu/37110 |
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Registros recuperados: 149 | |
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