A MICROECONOMETRIC ANALYSIS OF MILK QUOTA TRANSFER: APPLICATION TO FRENCH PRODUCERS

Hervé Guyomard, Xavier Delache, Xavier Irz and Louis‐Pascal Mane

Journal of Agricultural Economics, 1996, vol. 47, issue 1‐4, 206-223

Abstract: In this paper, we use the duality theory framework and the concept of virtual or shadow price of a rationed good to analyse producer behaviour under output quota when individual quota rights can be leased or rented for one production cycle. We propose a formal model of tradable quota rights which allows us to determine the lease price of quota and the exchanged quantity at equilibrium. The implications of trading On farmers' decisions (output choice level and traded licences), and on their incomes, are derived formally. The theoretical framework is applied to a sample of French milk producers for the year 1991. We then determine efficiency gains and regional shifts in production that such a market would generate.

Date: 1996
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https://doi.org/10.1111/j.1477-9552.1996.tb00685.x

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Working Paper: A microeconometric analysis of milk quota transfer: application to French producers (1996)
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