Using a squential logit model and a mixed-effects logistic regression approach this empirical study investigates factors for the adoption of automatic milking technology (AMS) at the farm level accounting for problems of sequential sample selection and behaviour identification. The results...

Producer welfare indices under price uncertainty are derived using the concept of certainty equivalent prices. In this approach the marginal cost function is used instead of the ex-ante supply function; the effects of uncertainty and risk preference are captured by certainty equivalent prices....

Traditionally, disaster assistance was available on an ad hoc basis, but the 2008 Farm Act provides a standing disaster assistance program known as Supplemental Revenue Assistance (SURE). This paper introduces a theory of nested insurance to evaluate the impact on of SURE on intensification,...

Major externality cases are random accidents which are not adequately addressed by the deterministic environmental policy literature -­‐ that of Pigouvian taxes, abatement subsidies and cap-­‐and-­‐trade. We consider a risk-­‐neutral industry where firms control the probability and...

Current research evaluating biofuels policies focuses primarily on market-economic criteria. While it is widely acknowledged that both the economic and environmental, and social aspects of biofuels policy must all be balanced with each other in the process of developing a viable biofuels policy,...

Transgenic pest-resistant varieties are hypothesized to reduce farmers’ demand for on-farm diversity through an act of substitution, as both serve as production risk reducing instruments. This adverse agro-biodiversity impact of technology adoption might be partially counteracted by an...