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Output Price Subsidies in a Stochastic World

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  • Robert G. Chambers
  • John Quiggin

Abstract

This article studies the comparative statics of output subsidies for firms, with monotonic preferences over costs and returns, that face price and production uncertainty. The modeling of deficiency payments, support-price schemes, and stochastic supply shifts in a state-space framework is discussed. It is shown how these notions can be used, via a simple application of Shephard's lemma, to analyze input-demand shifts once comparative-static results for supply are available. A range of comparative-static results for supply are then developed and discussed. Copyright 2005, Oxford University Press.

Suggested Citation

  • Robert G. Chambers & John Quiggin, 2005. "Output Price Subsidies in a Stochastic World," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(2), pages 501-508.
    • Handle: RePEc:oup:ajagec:v:87:y:2005:i:2:p:501-508
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    File URL: http://hdl.handle.net/10.1111/j.1467-8276.2005.00737.x
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    Cited by:

    1. Wagener, Andreas & Zenker, Juliane, 2018. "Decoupled but not neutral: The effects of stochastic transfers on investment and incomes in rural Thailand," TVSEP Working Papers wp-008, Leibniz Universitaet Hannover, Institute of Development and Agricultural Economics, Project TVSEP.
    2. Andreas Wagener & Juliane Zenker, 2021. "Decoupled but Not Neutral: The Effects of Counter‐Cyclical Cash Transfers on Investment and Incomes in Rural Thailand†," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(5), pages 1637-1660, October.
    3. Leiwakabessy, Erly & Effendy, Jani & Rijoly, Jacobus Cliff Diky, 2017. "Studies Determinants Of Economic Structural Change And Migration Surprises In Maluku Province," INA-Rxiv vaud5, Center for Open Science.
    4. Md. Tanveer Ahmed & Jun Zhuang & Changhyun Kwon, 2017. "Understanding Conflicting Interests of a Government and a Tobacco Manufacturer: A Game-Theoretic Approach," Group Decision and Negotiation, Springer, vol. 26(6), pages 1209-1230, November.

    More about this item

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment

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