SABIIA - Sistema Aberto e Integrado de Informação em Agricultura (Sabiia)

Smith, Rodney B.W.; Tomasi, Theodore D..

Mechanism design theory is used to develop the properties of optimal pollution control incentive schemes in the presence of adverse selection, moral hazard, and transaction costs. The model presented here shows (a) with no deadweight costs (transaction costs) , first-best allocations are always possible; (b) in the presence of transaction costs (caused by raising taxes), only second-best allocations are feasible; and (c) the conditions under which the optimal incentive scheme implementing second-best allocations will be a nonlinear tax, a standard(s), or a combination of both taxes and standard(s).

Tipo: Journal Article

Palavras-chave: Environmental Economics and Policy.

Ano: 1995

URL: http://purl.umn.edu/30768

MULTIPLE AGENTS, AND AGRICULTURAL NONPOINT-SOURCE WATER POLLUTION CONTROL POLICIES

Smith, Rodney B.W.; Tomasi, Theodore D..

Assuming asymmetric information over farmer profits and zero transaction costs, prior literature has suggested that when regulating nonpoint source water pollution, a tax on management practices (inputs) can implement full-information allocations and is superior to a tax on estimated runoff. Using mechanism design theory under asymmetric information, this paper show that under the same assumptions, management practice taxes and taxes on estimated runoff are equally efficient.

Tipo: Journal Article

Palavras-chave: Environmental Economics and Policy.

Ano: 1999

URL: http://purl.umn.edu/31489

ASYMMETRIC INFORMATION AND THE PRICING OF NATURAL RESOURCES: THE CASE OF UNMETERED WATER; Proceedings of the Fifth Joint Conference on Agriculture, Food, and the Environment, June 17-18, 1996, Padova, Italy

Smith, Rodney B.W.; Tsur, Yacov.

This paper uses mechanism design theory to (i) propose a mechanism to price irrigation water when farmers are heterogeneous in their production technologies (adverse selection) and their individual water uses are unobserved (moral hazard) and (ii) discusses briefly when such a mechanism might be economically unreasonable. Unmetered irrigation water is often priced by imposing per-acre fees on cultivated acreage or by charging per-unit fees on observable inputs or outputs. The offered pricing procedure is based on the observed output and achieves a first-best outcome when implementation is free of transaction costs.

EXPECTATIONS, FUTURES PRICES, AND FEEDLOT BEHAVIOR

Palavras-chave: Resource /Energy Economics and Policy.

Ano: 1996

URL: http://purl.umn.edu/14368

Smith, Rodney B.W.; Gardner, Bruce L..

This paper attempts to improve our understanding of the effects of market prices on cattle marketing decisions, using futures prices as measures of unobserved price expectations. This approach has been used successfully in explaining feeder cattle placements, but not in marketings. Our aim is to provide empirical evidence on an unresolved issue in cattle marketing, the differential effects of the current price and near-term price expectations. When the cash price of fed cattle rises, the higher returns from current sales encourage increased marketings; yet, if the price is expected to remain high it may pay to feed cattle longer, holding them back from current marketing. By estimating marketings as a function of cash and futures prices simultaneously...

The Impact of HIV on Total Factor Productivity

Palavras-chave: Livestock Production/Industries; Marketing.

Ano: 1993

URL: http://purl.umn.edu/13444

Alemu, Zerihun Gudeta; Roe, Terry L.; Smith, Rodney B.W..

This study investigates whether HIV prevalence rates impact TFP growth. We construct a panel of data on general macroeconomic indicators and HIV prevalence rates for over 100 countries, for the years 1994 through 2002, and estimate the impact of HIV on TFP growth rates for each country. We find that HIV can have a large negative impact on factor productivity growth in Southern African countries. For example, factor productivity growth in Lesotho falls by up to 23%, and for South Africa factor productivity growth falls by up to 15%. We then investigate the potential impact of the disease on the economic growth of Lesotho and South Africa. This is accomplished by calibrating a single sector, neoclassical model of economic growth with endogenous savings to...

Water Shortages, Water Allocation and Economic Growth: The Case of China

Palavras-chave: Health Economics and Policy; International Development.

Ano: 2005

URL: http://purl.umn.edu/12976

Fang, Xiangming; Roe, Terry L.; Smith, Rodney B.W..

Current projections indicate that by 2025, water scarcity will affect over one quarter of the world’s population. This suggests that the need to manage water more efficiently will become more pressing during the next few years as the demand for water increases along with the expansion of economies and their populations. This paper investigates the economic impacts of efficient intraregional and/or inter-regional water reallocation, and examines their corresponding economic gains. A Ramsey-type growth model of a small, open, competitive economy is fitted to year 2000 Chinese data andthe empirical model is used to perform policy experiments. Within region water reallocation increases per-capita Chinese GDP by about 1.5% per year over the period 2000-2060....

WATER MARKETS AND THIRD PARTY EFFECTS

Palavras-chave: International Development; Resource /Energy Economics and Policy.

Ano: 2006

URL: http://purl.umn.edu/6629

Bourgeon, Jean-Marc; Easter, K. William; Smith, Rodney B.W..

This paper examines the potential effects of water trading on the service sector of a rural economy. The economy earns income producing an irrigated agricultural product and a non-agricultural (service) good, and possibly by selling water. Among other things, we show when none of the water income leaves the region (no income flight), water trading enhances regional welfare. We then show if income flight is "large enough", water trading has the opposite effect. Albeit, even under income flight, if the income flight problem is not too serious, water trading will enhance regional welfare.

FORMULA MARKET CONTRACTS IN THE SWINE INDUSTRY

Palavras-chave: Resource /Energy Economics and Policy.

Ano: 2004

URL: http://purl.umn.edu/20231

Buhr, Brian L.; Smith, Rodney B.W..

One aspect of increasing market channel coordination in the swine industry is the offering of long-term market contracts by pork processors to swine producers. This paper seeks to examine the existing contracts and develop a theoretical framework for analyzing jointly optimal levels of contracting.

DO MISSING INSTITUTIONAL ARRANGEMENTS BLOCK ENLARGEMENT OF WATER MARKETS?

Palavras-chave: Livestock Production/Industries.

Ano: 1998

URL: http://purl.umn.edu/14483

Easter, K. William; Smith, Rodney B.W..

As we consider the potential for expanding water markets as a means to help prevent water shortages, it is clear that there is resistance to such an expansion. This resistance should not be surprising given that there are likely to be both gainers and losers from expanded water markets. This papers shows that there are a number of potential market failures when water markets are expanded and that these failures are important to different stakeholder groups. These failures result from both technical and pecuniary externalities. If markets are to expand beyond the local level, new institutional arrangements will be needed that help reduce the negative impacts of the different market failures. In the past a number of institutional arrangements have been...

AIDS AND ECONOMIC GROWTH IN SOUTH AFRICA

Palavras-chave: Resource /Energy Economics and Policy.

Ano: 2002

URL: http://purl.umn.edu/14405

Smith, Rodney B.W..

Morbidity and mortality effects are introduced into a three sector, Ramsey-type model of economic growth. The model is calibrated to South African national accounts data and used to examine the potential impact of HIV/AIDS on economic growth. Simulation results suggest a 10% decrease in the size of the effective labor force would lead to a 10% decrease in the long run (steady state) GDP levels. Similarly, a 10% decrease in the number of laborers would lead to an 11% drop in long run GDP.

BARRIERS TO EFFICIENCY AND THE PRIVATIZATION OF TOWNSHIP-VILLAGE ENTERPRISES

Palavras-chave: Health Economics and Policy; International Development; Labor and Human Capital.

Ano: 2003

URL: http://purl.umn.edu/28072

Fang, Xiangming; Smith, Rodney B.W..

This paper uses Nerlovian type measures to compare the economic performance of private enterprises and Township-Village enterprises during the pre-1994 and post-1994 years, and introduces decomposition measures to help explain their relative performances.

INCORPORATING EPIDEMIOLOGICAL PROJECTIONS OF MORBIDITY AND MORTALITY INTO AN OPEN ECONOMY GROWTH MODEL: AIDS IN SOUTH AFRICA

Palavras-chave: Community/Rural/Urban Development.

Ano: 2002

URL: http://purl.umn.edu/19744

Roe, Terry L.; Smith, Rodney B.W..

HIV prevalence dynamics are introduced into a three sector, neoclassical growth model. The model is calibrated to South African national accounts data and used to examine the potential impact of HIV/AIDS on economic growth. Projections portend if left unchecked, the long run impact of HIV and AIDS could drive South African GDP to levels that are over 60% less than no-HIV levels, with AIDS death rates decreasing the long run stock of labor by over 60%.

Water Markets and Third Party Effects

Palavras-chave: Health Economics and Policy.

Ano: 2004

URL: http://purl.umn.edu/20254

Bourgeon, Jean-Marc; Easter, K. William; Smith, Rodney B.W..

We examine the potential effects of water trading on aggregate welfare and income distribution across the agricultural and service sector of a small rural economy. We show that per capita welfare (real income) of agents in the region increase with increased water trading. Not surprisingly, if enough agents leaves the region (income flight), nominal income can fall. If the share of household income spent on services is large (small) relative to the cost share of services in agricultural production, then the service price increases (decreases) with increased water trading. Typically when the service price falls (increases) farmers win (lose), service providers lose (win) and agricultural service providers almost always lose. Thus, a natural conflict emerges...