Washington Biofuel Feedstock Crop Supply Analysis
AbstractBiofuels, as alternative transportation fuels, are now being used globally. Taking advantage of in-state feedstock supply is an efficient way to stimulate in-state biofuel industries and the local economy. This paper uses several models to estimate supply equations for major biofuel feedstock crops in Washington. We estimate expected utility maximization models, expected profit maximization models, and several pragmatic models. We examine the comparative statics results of the models, and use the results to draw important implications for Washington policy makers and for farmers who are considering production of biofuel feedstocks.
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Bibliographic InfoPaper provided by School of Economic Sciences, Washington State University in its series Working Papers with number 2008-24.
Length: 39 pages
Date of creation: Dec 2008
Date of revision:
biofuel feedstock; output uncertainty; price uncertainty; profit maximization; supply;
This paper has been announced in the following NEP Reports:
- NEP-AGR-2009-01-03 (Agricultural Economics)
- NEP-ALL-2009-01-03 (All new papers)
- NEP-ENE-2009-01-03 (Energy Economics)
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