The California pistachio industry led an initiative to establish a federal marketing order, which mandates quality standards and an inspection program to assure food safety and consistency in the quality of California pistachios. We develop a stochastic dynamic simulation model of the pistachio market to investigate quantitatively the likely effects of such collective action enforced by government mandates. Simulation results indicate that, across the full range of parameters used in the analysis, the benefit-cost analysis was always favorable to the proposed policy. The measured benefits to producers, the nation, or the world always well exceeded the corresponding measure of costs, typically by many times.
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2004 Annual meeting, August 1-4, Denver, CO with number
20031.
Length: Date of creation: 2004 Date of revision: Handle: RePEc:ags:aaea04:20031
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