| Registro completo |
| Provedor de dados: |
AgEcon
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| País: |
United States
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| Título: |
Moral Hazard, Targeting and Contract Duration in Agri-Environmental Policy
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| Autores: |
Fraser, Rob W.
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| Data: |
2011-07-11
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| Ano: |
2011
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| Palavras-chave: |
Moral Hazard
Contract Duration
Agri-Environmental Policy
Targeting
Agribusiness
Environmental Economics and Policy
Q15
Q18
Q58
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| Resumo: |
This paper extends the multi-period agri-environmental contract model of Fraser (2004) so that it contains a more realistic specification of the inter-temporal penalties for non-compliance, and therefore of the inter-temporal moral hazard problem in agri-environmental policy design. On this basis it is shown that a farmer will have an unambiguous preference for cheating early over cheating late in the contract period based on differences in the expected cost of compliance. It is then shown how the principal can make use of this unambiguous preference to target monitoring resources intertemporally, and in so doing, to encourage full contract duration compliance.
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| Tipo: |
Conference Paper or Presentation
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| Idioma: |
Inglês
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| Identificador: |
http://purl.umn.edu/108795
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| Relação: |
Agricultural Economics Society>85th Annual Conference, April 18-20, 2011, Warwick University, Coventry, UK
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| Formato: |
17
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