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Risk Response Models and Their Use In Agricultural Policy Evaluation

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  • Just, Richard E.

Abstract

The previous two papers have discussed the possible effects that proposed public policy may have on risk and uncertainty in the agricultural economic environment. Accordingly, I will argue that, before we can adequately evaluate such policies which create new degrees of risk for agricultural producers, we must have better quantitative knowledge of how fathers will respond to changing risk in adjusting input and production decisions. I will then consider models for estimation of the effects of changing risk in agricultural supply response.

Suggested Citation

  • Just, Richard E., 1975. "Risk Response Models and Their Use In Agricultural Policy Evaluation," 1975 Annual Meeting, August 10-13, Columbus, Ohio 284112, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea75:284112
    DOI: 10.22004/ag.econ.284112
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    Cited by:

    1. Schoney, R. A., 1990. "An Analysis of Wheat Supply Response Under Risk and Uncertainty," Working Papers 244030, Agriculture and Agri-Food Canada.
    2. Martin, Larry, 1976. "An Analysis of the Amended Agricultural Stabilization Act with Special Reference to the Livestock Industry," Working Papers 245015, University of Guelph, Department of Food, Agricultural and Resource Economics.
    3. Gallagher, Paul W., 1978. "The Effectiveness Of Price Support Policy--Some Evidence For U.S. Corn Acreage Response," Staff Papers 14140, University of Minnesota, Department of Applied Economics.
    4. Catarina Roseta‐Palma & Yiğit Sağlam, 2019. "Downside risk in reservoir management," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 63(2), pages 328-353, April.
    5. Anderson, Jock R., 2003. "Risk in rural development: challenges for managers and policy makers," Agricultural Systems, Elsevier, vol. 75(2-3), pages 161-197.
    6. Chen, Dean T. & Penson, John B. & Teboh, Jacob F., 1988. "The Implicit Revenue Function Approach to Farm Program Analysis," Staff Reports 257912, Texas A&M University, Agricultural and Food Policy Center.
    7. John C. Quiggin, 1983. "Underwriting Agricultural Commodity Prices," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 27(3), pages 200-211, December.
    8. Quiggin, John C. & Anderson, Jock R., 1979. "Stabilisation And Risk Reduction In Australian Agriculture," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 23(3), pages 1-16, December.
    9. Van Kooten, G. C. & Spriggs, John & Schmitz, Andrew, 1989. "The Impact of Canadian Commodity Stabilization Programs on Risk Reduction and the Supply of Agricultural Commodities," Working Papers 244037, Agriculture and Agri-Food Canada.
    10. David S. Bullock & Philip Garcia & Kie‐Yup Shin, 2005. "Measuring producer welfare under output price uncertainty and risk non‐neutrality," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 1-21, March.
    11. Robison, Lindon & Carman, Garth, 1979. "Aggregate Risk Response Models And Market Equilibrium," Risk Management in Agriculture: Behavioral, Managerial, and Policy Issues, January 25-26, 1979, San Francisco, California 271467, Regional Research Projects > W-149: An Economic Evaluation of Managing Market Risks in Agriculture.
    12. Musser, Wesley N., 1982. "Discussion: Policy Science In The Land-Grant Complex: A Perspective On Natural Resource Economics," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 14(1), pages 1-3, July.
    13. John C. Quiggin & Jock R. Anderson, 1981. "Price Bands and Buffer Funds," The Economic Record, The Economic Society of Australia, vol. 57(1), pages 67-73, March.
    14. E. Lutz, 1978. "The Welfare Gains from Price Stabilization under Risk Response," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 114(II), pages 115-130, June.
    15. Tabares Elizabeth & Ramón Rosales, 2005. "Políticas de control de oferta de coca: la zanahoria" y "el garrote""," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, May.
    16. Centre for Agricultural Strategy, 1978. "Capital for Agriculture," Centre for Agricultural Strategy - Papers and Reports 333387, University of Reading.
    17. Jeon, Jong-Pyeong, 1989. "The impacts of policy alternatives and foreign demand fluctuations on the US rice market," ISU General Staff Papers 1989010108000010204, Iowa State University, Department of Economics.
    18. Labys, Walter C., 1988. "Recent developments in commodity modeling : a World Bankfocus," Policy Research Working Paper Series 119, The World Bank.
    19. Langley, James A., 1983. "Regional acreage response functions for major US field crops: estimation and policy implications," ISU General Staff Papers 198301010800008678, Iowa State University, Department of Economics.
    20. Fox, Virginia A., 1976. "Economic Research Of Interest To Agriculture, 1973-1975," Economic Research of Interest to Agriculture 7277, University of California, Berkeley, Department of Agricultural and Resource Economics.

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    Keywords

    Risk and Uncertainty;

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