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Measures of Waste Due to Quotas

Author

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  • Lilyan E. Fulginiti
  • Richard K. Perrin

Abstract

This paper addresses the issue of measuring waste due to the imposition of a production quota. our objective is to elaborate two alternative general equilibrium concepts of the welfare loss due to the imposition of a production quota, and to illustrate their use by considering costs of the U.S. tobacco program.

Suggested Citation

  • Lilyan E. Fulginiti & Richard K. Perrin, 2005. "Measures of Waste Due to Quotas," Public Economics 0502016, EconWPA.
  • Handle: RePEc:wpa:wuwppe:0502016 Note: Type of Document - pdf; pages: 6
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    References listed on IDEAS

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    Cited by:

    1. Aldanondo, Ana Maria & Puertolas, Javier, 2002. "International Quota Transfer and Intermediate Goods," 2002 International Congress, August 28-31, 2002, Zaragoza, Spain 24851, European Association of Agricultural Economists.

    More about this item

    Keywords

    Welafare loss; general equilibrium; Debreu; Allais; Hicks; production quota; tobacco;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

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