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Measuring the Welfare Costs of Supply Management: The Role of Indirect Benefits

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  • van Kooten, Kees

Abstract

This study indicates that it is important to take into account what happens in other markets when evaluating the social costs of government agricultural programs. However, indirect benefits (costs) accruing in other markets are only to be measured if those markets are distorted (price does not equal marginal cost). An empirical application from supply management in Canadian agriculture is provided. The results suggest that, if other markets are ignored, the social costs of supply restrictions may be overestimated by 50 percent. This is quite a large relative error indeed if one is interested in evaluating public policy from a social welfare standpoint. Copyright 1990 by Oxford University Press.

Suggested Citation

  • van Kooten, Kees, 1990. "Measuring the Welfare Costs of Supply Management: The Role of Indirect Benefits," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 17(1), pages 57-67.
    • Handle: RePEc:oup:erevae:v:17:y:1990:i:1:p:57-67
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    Cited by:

    1. Andrew Schmitz, 2008. "Canadian Agricultural Programs and Policy in Transition," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 56(4), pages 371-391, December.
    2. G. Cornelis van Kooten, 2017. "The Welfare Economics of Dismantling Dairy Quota in a Confederation of States," Working Papers 2017-04, University of Victoria, Department of Economics, Resource Economics and Policy Analysis Research Group.
    3. Migdalas, A. & Baourakis, G. & Kalogeras, N. & Meriem, H. B., 2004. "Sector modeling for the prediction and evaluation of Cretan olive oil," European Journal of Operational Research, Elsevier, vol. 152(2), pages 454-464, January.

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