Amenity Benefits And Public Policy: An Application To The Connecticut Dairy Sector
AbstractThis article develops a conceptual framework for analyzing the role of state-level policies towards the dairy sector in the presence of farmland amenity benefits, and applies it to Connecticut. Milk supply, demand and amenity benefit functions are estimated, and three exogenously determined milk prices are considered. The empirical findings show, under each price scenario, the extent to which land is underallocated to the dairy sector if amenity benefits are ignored. Analysis of policy options reveals that a partial production cost subsidy represents the least-cost alternative for attaining the socially optimal solution for the region.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 26 (1994)
Issue (Month): 02 (December)
Amenity benefits; Policy; Dairy; Land use; Land Economics/Use; Livestock Production/Industries;
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