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Insuring The Stewardship Of Bt Corn: 'A Carrot' Versus 'A Stick'

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Author Info
Mitchell, Paul D.
Hurley, Terrance M.
Babcock, Bruce A.
Hellmich, Richard L.

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Abstract

Subsidies and fines are compared to voluntary and mandatory refuge insurance (insurance for pest damage on Bt corn refuge) as mechanisms for securing grower compliance with EPA refuge mandates. A conceptual model partially ranks mechanisms. Tradeoffs between mechanisms using grower welfare, payments to growers, and monitoring frequency are quantified empirically. Grower welfare is lowest with mandatory insurance because growers pay all costs, and is highest with direct refuge subsidies because public funds or companies subsidize all costs. Assuming typical premium loads and ignoring distribution considerations, we develop monitoring budgets for fines and subsidies, above which voluntary or mandatory insurance is better.

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File URL: http://purl.umn.edu/31127
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Publisher Info
Article provided by Western Agricultural Economics Association in its journal Journal of Agricultural and Resource Economics.

Volume (Year): 27 (2002)
Issue (Month): 02 (December)
Pages:
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Handle: RePEc:ags:jlaare:31127

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Web page: http://waeaonline.org/
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Related research
Keywords: Risk and Uncertainty;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Marsh, Thomas L & Huffaker, Ray G & Long, Garrell E, 2000. " Optimal Control of Vector-Virus-Plant Interactions: The Case of Potato Leafroll Virus Net Necrosis," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 82(3), pages 556-69, August. [Downloadable!] (restricted)
  2. J. Pannell, David, 1991. "Pests and pesticides, risk and risk aversion," Agricultural Economics, Blackwell, vol. 5(4), pages 361-383, August. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ambec, Stefan & Desquilbet, Marion, 2006. "Pest Resistance Regulation and Pest Mobility," 2006 Annual meeting, July 23-26, Long Beach, CA 21134, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
    Other versions:
  2. Mitchell, Paul D. & Zhu, En & Hurley, Terrance M., 2004. "Adverse Selection, Moral Hazard, And Grower Compliance With Bt Corn Refuge," 2004 Annual meeting, August 1-4, Denver, CO 20123, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  3. Yang, Juan & Mitchell, Paul D. & Gray, Michael & Steffey, Kevin, 2007. "Unbalanced Nested Component Error Model and the Value of Soil Insecticide and Bt Corn for Controlling Western Corn Rootworm," Staff Paper Series 510, University of Wisconsin, Agricultural and Applied Economics. [Downloadable!]
  4. Mitchell, Paul D. & Zhu, En "John", 2003. "Moral Hazard And Bt Corn Refuge," 2003 Annual meeting, July 27-30, Montreal, Canada 22113, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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This page was last updated on 2009-12-11.

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