This paper derives the efficient set of policies for a multifunctional agriculture and relates them to trade. In general, efficiency cannot be achieved through simple output subsidies, but the efficient policies to move closer to socially optimal levels of multifunctional, non-commodity outputs...

A result on the comparative statics of land rent under joint price and yield uncertainty and expected utility maximisation is provided. An increase in the strength of the negative price--yield dependence is modelled using the concordance stochastic order. The effect of a greater price--yield...