Interactions between Agricultural and Resource Policy: The Importance of Attitudes toward Risk

Howard Leathers and John Quiggin

American Journal of Agricultural Economics, 1991, vol. 73, issue 3, 757-764

Abstract: Using a method proposed by Meyer for deriving comparative statics results in the presence of risk, this paper analyzes the effects of various agricultural and environmental policy alternatives on the choices of a risk-averse producer with a Just and Pope production function. Many commonly held beliefs about policy effects are not supported unambiguously by economic theory. For example, a tax on pesticides will not necessarily reduce pesticide use or average output, and a reduction in price of agricultural output will not necessarily lead to a reduction in use of water or agricultural chemicals.

Date: 1991
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