Implications of the Air Compliance Agreement for Livestock Producers
AbstractNutrient management and air emissions continue to be an area of increased management control on all livestock operations as environmental regulations become more stringent. Agricultural producers must consider uncertainty surrounding the timing of and potential increases of environmental policy controls, such as emission taxes, when making future investment decisions. An optimal control theory framework was applied to a dairy farm facing an uncertain increase in emission taxes and an unknown date at which emission taxes will take effect. The optimal investment path considering these uncertainties was solved implicitly and compared to a full certainty case.
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Bibliographic InfoPaper provided by Agricultural and Applied Economics Association in its series 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin with number 49316.
Date of creation: 2009
Date of revision:
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air emissions; environmental regulations; irreversible investment; uncertainty; Environmental Economics and Policy; Livestock Production/Industries;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-16 (All new papers)
- NEP-ENV-2009-05-16 (Environmental Economics)
- NEP-REG-2009-05-16 (Regulation)
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