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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

Abstract: 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)
Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sojoae:29907

DOI: 10.22004/ag.econ.29907

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