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| Moore, Michael R.; Gollehon, Noel R.; Hellerstein, Daniel. |
| Application of the tobit model to estimate economic welfare is transferred from the consumer side to the producer side. Supply functions are estimated for multioutput irrigators in the Pacific Northwest. Empirical procedures are then developed for computing expected producer's surplus from the output supply functions. Confidence intervals for the surplus measures are generated using the Krinsky-Robb method. An experiment predicts decreases in surplus given increases in water pumping cost. The experiment replicates possible increases in hydroelectric prices due to the salmon recovery program in the Columbia-Snake River Basin. Output substitution explains producers' ability to mitigate the effect of the price increases on producer's surplus. |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2000 |
URL: http://purl.umn.edu/30885 |
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| Moore, Michael R.; Negri, Donald H.. |
| Recipients of irrigation water from the Bureau of Reclamation (BuRec) face a future of water conservation. By formally modeling surface water as a fixed, allocatable input to a multioutput firm, this research captures the institutional constraints governing water allocation and , simultaneously, establishes a cohesive approach to analyzing the production effects of BuRec allocation policy. Econometric results show that BuRec-served irrigators' crop supply and land allocation decisions are generally inelastic with respect to the water constraint. Using the elasticities, a policy simulation of a 10% reduction in BuRec water allocation indicates that production response to reduced water supply would affect the national price of three of ten major crops... |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1992 |
URL: http://purl.umn.edu/30736 |
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