PROBABILISTIC COST EFFECTIVENESS IN AGRICULTURAL NONPOINT POLLUTION CONTROL
William T. McSweeny and
James Shortle ()
Southern Journal of Agricultural Economics, 1990, vol. 22, issue 1, 10
Conceptual weaknesses in the use of costs of average abatement as a measure of the cost effectiveness of agricultural nonpoint pollution control are examined. A probabilistic alternative is developed. The focus is on methods for evaluating whole-farm pollution control plans rather than individual practices. As a consequence, the analysis is presented in a chance-constrained activity analysis framework because activity procedures are a practical and well developed device for screening farm planes. Reliability of control is shown to be as important as reduction targets in designing farm plans for pollution control. Furthermore, broad-axe prescriptions of technology in the form of Best Management Practices may perform poorly with respect to cost effectiveness.
Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
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Journal Article: Probabilistic Cost Effectiveness in Agricultural Nonpoint Pollution Control (1990)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sojoae:29907
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