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| Veeman, Michele M.; Dong, Xiao-Yuan. |
| Based on the hypothesis that tradeable marketing quotas may be analysed as an economic input in the production process of regulated firms, the standard capital asset pricing model is adapted to assess the impact of expectations of quota rents on Ontario fluid milk quota values. The analysis provides estimates of the marginal impacts on quota values of two variables postulated to proxy the rent that arises from the highly regulated market for this product. The results are consistent with expectations from economic theory for a divisible capital asset. It appears that the regulated marketing system for fluid milk has enabled appreciable returns from improvements in milk production technology and administered prices to be appropriated by producers. Milk... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Livestock Production/Industries. |
| Ano: 1995 |
URL: http://purl.umn.edu/24083 |
