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Behavioral Incentives, Equilibrium Endemic Disease, and Health Management Policy for Farmed Animals

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Author Info
Hennessy, David A.

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Abstract

The article develops a dynamic capital valuation model in which farms can act with farm-varying cost to increase the probability of avoiding an infectious endemic animal disease. Multiple endemic disease equilibria can exist, and the one with the largest set of action takers is socially optimal. Costly capital markets are shown to be a factor in determining the extent of disease. Frictions, such as dealing with a veterinary public health bureaucracy, can enhance social welfare by encouraging precautionary biosecurity actions. Technical innovations can reduce social welfare, and a disease indemnification scheme is also studied. Suggestions for empirical implementation are provided.

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File URL: http://www.blackwell-synergy.com/doi/full/10.1111/j.1467-8276.2007.01001.x
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Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 12489.

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Date of creation: 21 Dec 2005
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Publication status: Published in American Journal of Agricultural Economics, August 2007, Vol. 89, No. 3, pp. 698-711.
Handle: RePEc:isu:genres:12489

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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Web page: http://www.econ.iastate.edu
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Keywords: biosecurity continuous time multiple equilibria Nash behavior reinfection.

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  1. Kimball, Miles S, 1994. "Labor-Market Dynamics When Unemployment is a Worker Discipline Device," American Economic Review, American Economic Association, vol. 84(4), pages 1045-59, September. [Downloadable!] (restricted)
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  2. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June. [Downloadable!] (restricted)
  3. Mahul, Olivier & Gohin, Alexandre, 1999. "Irreversible Decision Making in Contagious Animal Disease Control under Uncertainty: An Illustration Using FMD in Brittany," European Review of Agricultural Economics, Oxford University Press for the Foundation for the European Review of Agricultural Economics, vol. 26(1), pages 39-58, March.
  4. Milgrom, Paul & Roberts, John, 1994. "Comparing Equilibria," American Economic Review, American Economic Association, vol. 84(3), pages 441-59, June. [Downloadable!] (restricted)
  5. David A. Hennessy, 2005. "Biosecurity and Infectious Animal Disease," Center for Agricultural and Rural Development (CARD) Publications 05-wp413, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
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  6. Kremer, Michael, 1996. "Integrating Behavioral Choice into Epidemiological Models of AIDS," The Quarterly Journal of Economics, MIT Press, vol. 111(2), pages 549-73, May. [Downloadable!] (restricted)
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  7. Richard D. Horan & Christopher A. Wolf, 2005. "The Economics of Managing Infectious Wildlife Disease," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 87(3), pages 537-551, 08. [Downloadable!] (restricted)
  8. Moretti, Enrico & Perloff, Jeffrey M, 2002. " Efficiency Wages, Deferred Payments, and Direct Incentives in Agriculture," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 84(4), pages 1144-55, November. [Downloadable!] (restricted)
  9. David A. Hennessy & Jutta Roosen & Helen H. Jensen, 2005. "Infectious Disease, Productivity, and Scale in Open and Closed Animal Production Systems," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 87(4), pages 900-917, November. [Downloadable!] (restricted)
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  10. Geoffard, Pierre-Yves & Philipson, Tomas, 1996. "Rational Epidemics and Their Public Control," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(3), pages 603-24, August.
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  11. Nancy H. Chau & Harry de Gorter, 2005. "Disentangling the Consequences of Direct Payment Schemes in Agriculture on Fixed Costs, Exit Decisions, and Output," American Journal of Agricultural Economics, American Agricultural Economics Association, vol. 87(5), pages 1174-1181, November. [Downloadable!] (restricted)
  12. Geoffard, Pierre-Yves & Philipson, Tomas, 1997. "Disease Eradication: Private versus Public Vaccination," American Economic Review, American Economic Association, vol. 87(1), pages 222-30, March. [Downloadable!] (restricted)
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(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. David A. Hennessy, 2006. "Economies of Feedlot Scale, Biosecurity, Investment, and Endemic Livestock Disease," Center for Agricultural and Rural Development (CARD) Publications 06-wp433, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
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