Probabilistic Cost Effectiveness In Agricultural Nonpoint Pollution Control
AbstractConceptual weaknesses in the use of costs of average abatement as a measure of the cost effectiveness of agricultural nonpoint pollution control are examined. A probabilistic alternative is developed. The focus is on methods for evaluating whole-farm pollution control plans rather than individual practices. As a consequence, the analysis is presented in a chance-constrained activity analysis framework because activity procedures are a practical and well developed device for screening farm planes. Reliability of control is shown to be as important as reduction targets in designing farm plans for pollution control. Furthermore, broad-axe prescriptions of technology in the form of Best Management Practices may perform poorly with respect to cost effectiveness.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Southern Journal of Agricultural Economics.
Volume (Year): 22 (1990)
Issue (Month): 01 (July)
Environmental Economics and Policy;
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