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The Empirical Distribution of the Costs of Revenue-Based Commodity Support Programs-Estimates and Policy Implications

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  • Joseph Cooper

Abstract

This paper demonstrates how the density function of the U.S. domestic commodity support payments for corn differs between current price-based approaches to support and a revenue-based alternative. Comparing across program scenarios that provide equal expected levels of support at the national level, the revenue-based scenario exhibits a lower variability around total expected annual payments, and perhaps more importantly, a lower probability of high payments than the current-style support. Furthermore, for the vast majority of corn-producing counties in the United States, the coefficient of variation of total gross revenue per acre is lower under the revenue-based support scenario than under the current-style scenario. Copyright 2009 Agricultural and Applied Economics Association

Suggested Citation

  • Joseph Cooper, 2009. "The Empirical Distribution of the Costs of Revenue-Based Commodity Support Programs-Estimates and Policy Implications," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 31(2), pages 206-221, June.
    • Handle: RePEc:oup:revage:v:31:y:2009:i:2:p:206-221
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    Cited by:

    1. Claassen, Roger & Cooper, Joseph C. & Carriazo, Fernando, 2011. "Crop Insurance, Disaster Payments, and Land Use Change: The Effect of Sodsaver on Incentives for Grassland Conversion," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(2), pages 195-211, May.
    2. Claassen, Roger & Bowman, Maria & Breneman, Vince & Wade, Tara & Williams, Ryan & Fooks, Jacob & Hansen, LeRoy & Iovanna, Rich & Loesch, Chuck, "undated". "Conservation Compliance: How Farmer Incentives Are Changing in the Crop Insurance Era," Economic Research Report 261814, United States Department of Agriculture, Economic Research Service.
    3. Claassen, Roger & Carriazo, Fernando & Cooper, Joseph C. & Hellerstein, Daniel & Ueda, Kohei, "undated". "Grassland to Cropland Conversion in the Northern Plains: The Role of Crop Insurance, Commodity, and Disaster Programs," Economic Research Report 262239, United States Department of Agriculture, Economic Research Service.
    4. Arnade, Carlos Anthony & Cooper, Joseph C., 2012. "Acreage Response under Varying Risk Preferences," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 37(3), pages 1-17.
    5. Cooper, Joseph C., 2009. "Economic Aspects of Revenue-Based Commodity Support," Economic Research Report 55838, United States Department of Agriculture, Economic Research Service.

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