Amenity Benefits And Public Policy: An Application To The Connecticut Dairy Sector
This article develops a conceptual framework for analyzing the role of state-level policies towards the dairy sector in the presence of farmland amenity benefits, and applies it to Connecticut. Milk supply, demand and amenity benefit functions are estimated, and three exogenously determined milk prices are considered. The empirical findings show, under each price scenario, the extent to which land is underallocated to the dairy sector if amenity benefits are ignored. Analysis of policy options reveals that a partial production cost subsidy represents the least-cost alternative for attaining the socially optimal solution for the region.
Volume (Year): 26 (1994)
Issue (Month): 02 (December)
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- Huang, Kuo S., 1985.
"U.S. Demand for Food: A Complete System of Price and Income Effects,"
157014, United States Department of Agriculture, Economic Research Service.
- Huang, Kuo S., 1985. "U.S Demand for Food: A Complete System of Price and Icome Effects," Technical Bulletins 206507, United States Department of Agriculture, Economic Research Service.
- Gardner, Bruce L., 1994. "Commercial Agriculture In Metropolitan Areas: Economics And Regulatory Issues," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 23(1), April.
- L. J. Hubbard, 1992. "Two-Tier Pricing For Milk: A Re-Examination," Journal of Agricultural Economics, Wiley Blackwell, vol. 43(3), pages 343-354.
- Rigoberto A. Lopez & Farhed A. Shah & Marilyn A. Altobello, 1994. "Amenity Benefits and the Optimal Allocation of Land," Land Economics, University of Wisconsin Press, vol. 70(1), pages 53-62.
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