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Determination of a Variable Price Support Schedule as Applied to Agricultural Production Control

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  • Huang, Wen-Yuan
  • Hyberg, Bengt

Abstract

Adoption of variable price support (VPS) schedules could be effective in controlling agricultural production and targeting program benefits to specific farm groups. The design of a VPS program would require determination of price schedules for farm-level production decisions that satisfy both farmer and program objectives. We applied a primal-dual mathematical programming model to the determination of a VPS program for production control of US corn, wheat, and soybeans. We show that government program costs under the VPS program would decline to $15 billion from $26.8 billion under a comparably scaled mandatory production control program. The program benefits to a 120-acre farm would increase 80 percent to $18,000 from $10,000 while the benefits to a 2,500-acre farm would fall 82 percent to $40,000.

Suggested Citation

  • Huang, Wen-Yuan & Hyberg, Bengt, 1991. "Determination of a Variable Price Support Schedule as Applied to Agricultural Production Control," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 43(3), pages 1-7.
    • Handle: RePEc:ags:uersja:138238
    DOI: 10.22004/ag.econ.138238
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    File URL: https://ageconsearch.umn.edu/record/138238/files/4Huang_43_3.pdf
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    1. Huang, Wen-Yuan & Hyberg, Bengt & Segarra, Eduardo, 1990. "A Variable Price Support Farm Program: A Transition Tool To A Free Market," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 22(1), pages 1-11, July.
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      Production Economics;

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