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Ethics And Externalities: Agricultural Stewardship And Other Behaviour: Presidential Address

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  • David Colman

Abstract

Neo classical micro‐economic theory of the firm and household rests on the foundations of profit maximising and utility maximising behaviour respectively. This paper explores the issue of whether market efficiency can be improved when economic agents' behaviour is motivated by ethical objectives such as fairness and altruism. In particular the paper examines agricultural stewardship as an ethically motivated form of behaviour, which is profit sacrificing, but which improves economic efficiency by reducing environmental externalities. The paper also reiterates the limitations of Pareto optimality as a criterion of economic welfare because its rejection of interpersonal welfare comparisons rules out ethical considerations of income and wealth distribution.

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  • David Colman, 1994. "Ethics And Externalities: Agricultural Stewardship And Other Behaviour: Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(3), pages 299-311, September.
    • Handle: RePEc:bla:jageco:v:45:y:1994:i:3:p:299-311
    DOI: 10.1111/j.1477-9552.1994.tb00405.x
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    References listed on IDEAS

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    1. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard, 1986. "Fairness as a Constraint on Profit Seeking: Entitlements in the Market," American Economic Review, American Economic Association, vol. 76(4), pages 728-741, September.
    2. Bromley, Daniel W & Hodge, Ian, 1990. "Private Property Rights and Presumptive Policy Entitlements: Reconsidering the Premises of Rural Policy," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 17(2), pages 197-214.
    3. Matthews, R C O, 1981. "Morality, Competition and Efficiency," The Manchester School of Economic & Social Studies, University of Manchester, vol. 49(4), pages 289-309, December.
    4. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
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    Cited by:

    1. Christopher Ritson, 1997. "Marketing, Agriculture And Economics: Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 48(1‐3), pages 279-299, January.
    2. Harvey, David, 2013. "PL3_Paper - What’s The Point Of (Agricultural) Economics?," 19th Congress, Warsaw, Poland, 2013 345743, International Farm Management Association.
    3. Graversgaard, Morten & Jacobsen, Brian H. & Hoffmann, Carl Christian & Dalgaard, Tommy & Odgaard, Mette Vestergaard & Kjaergaard, Charlotte & Powell, Neil & Strand, John A. & Feuerbach, Peter & Tonder, 2021. "Policies for wetlands implementation in Denmark and Sweden – historical lessons and emerging issues," Land Use Policy, Elsevier, vol. 101(C).
    4. Davies, B.B. & Hodge, I.D., 2007. "Exploring environmental perspectives in lowland agriculture: A Q methodology study in East Anglia, UK," Ecological Economics, Elsevier, vol. 61(2-3), pages 323-333, March.
    5. Barnes, A.P. & Willock, J. & Hall, C. & Toma, L., 2009. "Farmer perspectives and practices regarding water pollution control programmes in Scotland," Agricultural Water Management, Elsevier, vol. 96(12), pages 1715-1722, December.
    6. Martin Whitby, 2000. "Challenges and Options for the UK Agri‐Environment: Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 51(3), pages 317-332, September.
    7. Paul Webster, 1999. "The Challenge of Sustainability at the Farm Level: Presidential Address," Journal of Agricultural Economics, Wiley Blackwell, vol. 50(3), pages 371-387, September.
    8. Michael Burton & Dan Rigby & Trevor Young, 2003. "Modelling the adoption of organic horticultural technology in the UK using Duration Analysis," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 47(1), pages 29-54, March.
    9. Ruishi Si & Sitong Pan & Yuxin Yuan & Qian Lu & Shuxia Zhang, 2019. "Assessing the Impact of Environmental Regulation on Livestock Manure Waste Recycling: Empirical Evidence from Households in China," Sustainability, MDPI, vol. 11(20), pages 1-17, October.
    10. Toma, Luiza & Mathijs, Erik, 2005. "Determinants of Romanian Farmers' Participation in Agri-Environmental Programmes," 2005 International Congress, August 23-27, 2005, Copenhagen, Denmark 24574, European Association of Agricultural Economists.
    11. Defrancesco, Edi & Gatto, Paola & Runge, C. Ford & Trestini, Samuele, 2006. "Factors Affecting Farmers' Participation in Agri-Environmental Measures: Evidence from a Case Study," Conference Papers 6688, University of Minnesota, Center for International Food and Agricultural Policy.
    12. Colman, David & Pascual, Unai & Hodge, Ian, 2010. "Evolution of Land Conservation Policy," 14th ICABR Conference, June 16-18, 2010, Ravello, Italy 188082, International Consortium on Applied Bioeconomy Research (ICABR).
    13. Hellberg-Bahr, Anneke & Spiller, Achim, 2012. "How to Treat Farmers Fairly? Results of a Farmer Survey," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 15(3), pages 1-11, September.
    14. Kreye, Melissa M. & Adams, Damian C. & Ober, Holly K., 2018. "Protecting Imperiled Wildlife Species on Private Lands: Forest Owner Values and Response to Government Interventions," Ecological Economics, Elsevier, vol. 149(C), pages 254-264.
    15. David Blandford, 2010. "Presidential Address: The Visible or Invisible Hand? The Balance Between Markets and Regulation in Agricultural Policy," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(3), pages 459-479, September.
    16. Merlo, Maurizio & Ferro, Ottone & Povellato, Andrea, 1995. "Valuation and Remuneration of Countryside Stewardship Performed by Agriculture and Forestry," 1994 Conference, August 22-29, 1994, Harare, Zimbabwe 183402, International Association of Agricultural Economists.
    17. Dobbs, Thomas L., 2002. "Agricultural, Resource, And Ecological Economics With A "Multifunctionality" Perspective," Economics Staff Papers 32025, South Dakota State University, Department of Economics.
    18. Ahsanuzzaman, Ahsanuzzaman, 2015. "Duration Analysis of Technology Adoption in Bangladeshi Agriculture," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 200406, Agricultural and Applied Economics Association.
    19. Glenk, Klaus & Schaafsma, Marije & Moxey, Andrew & Martin-Ortega, Julia & Hanley, Nick, 2014. "A framework for valuing spatially targeted peatland restoration," Ecosystem Services, Elsevier, vol. 9(C), pages 20-33.
    20. Barnes, Andrew Peter & Willock, J. & Hall, Clare & Luiza, Toma, 2008. "Farmer Responses to Nitrate Vulnerable Zone Designation in Scotland," 82nd Annual Conference, March 31 - April 2, 2008, Royal Agricultural College, Cirencester, UK 36767, Agricultural Economics Society.

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