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Moral Hazard And Bt Corn Refuge

Listed author(s):
  • Mitchell, Paul D.
  • Zhu, En (John)

Using a principal-agent model, we find the optimal subsidy contract that induces grower compliance with Bt corn refuge requirements for managing insect resistance when asymmetric information exists concerning grower behavior. The optimal contract balances the cost of monitoring and the benefit of reducing the likelihood of insect resistance.

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File URL: http://purl.umn.edu/22113
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2003 Annual meeting, July 27-30, Montreal, Canada with number 22113.

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Date of creation: 2003
Handle: RePEc:ags:aaea03:22113
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  1. Terrance M. Hurley & Paul D. Mitchell & Marlin E. Rice, 2004. "Risk and the Value of Bt Corn," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(2), pages 345-358.
  2. Coble, Keith H. & Heifner, Richard G. & Zuniga, Manuel, 2000. "Implications Of Crop Yield And Revenue Insurance For Producer Hedging," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 25(02), December.
  3. Babcock, Bruce A. & Choi, E. Kwan & Feinerman, Eli, 1993. "Risk And Probability Premiums For Cara Utility Functions," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(01), July.
  4. David A. Hennessy & Bruce A. Babcock & Dermot J. Hayes, 1997. "Budgetary and Producer Welfare Effects of Revenue Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1024-1034.
  5. Atanu Saha & C. Richard Shumway & Arthur Havenner, 1997. "The Economics and Econometrics of Damage Control," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 773-785.
  6. Gershon Feder, 1979. "Pesticides, Information, and Pest Management under Uncertainty," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 61(1), pages 97-103.
  7. Mitchell, Paul D. & Hurley, Terrance M. & Babcock, Bruce A. & Hellmich, Richard L., 2002. "Insuring The Stewardship Of Bt Corn: 'A Carrot' Versus 'A Stick'," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 27(02), December.
  8. Hurley, Terrance M. & Babcock, Bruce A. & Hellmich, Richard L., 2001. "Bt Corn And Insect Resistance: An Economic Assessment Of Refuges," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(01), July.
  9. Bruce A. Babcock & Chad E. Hart & Dermot J. Hayes, 2002. "Crop Insurance Rates and the Laws of Probability," Center for Agricultural and Rural Development (CARD) Publications 02-wp298, Center for Agricultural and Rural Development (CARD) at Iowa State University.
  10. David A. Hennessy & Bruce A. Babcock & Dermot J. Hayes, 1997. "Budgetary and Producer Welfare Effects of Revenue Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 1024-1034.
  11. J. K. Horowitz & E. Lichtenberg, 1994. "Risk-Reducing And Risk-Increasing Effects Of Pesticides," Journal of Agricultural Economics, Wiley Blackwell, vol. 45(1), pages 82-89.
  12. David A. Hennessy, 1997. "Damage Control and Increasing Returns: Further Results," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(3), pages 786-791.
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