ENVIRONMENTAL RISK AND AGRI-ENVIRONMENTAL POLICY DESIGN

Richard Horan, Roger Claassen and Joseph Cooper ()

No 21827, 2000 Annual meeting, July 30-August 2, Tampa, FL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Agricultural nonpoint pollution is inherently stochastic (e.g., due to weather). In theory, this randomness has implications for the choice and design of policy instruments. However, very few empirical studies have modeled natural variability. This paper investigates the importance of stochastic processes for the choice and design of alternative nonpoint instruments. The findings suggest that not explicitly considering the stochastic processes in the analysis can produce significantly biased results.

Keywords: Agricultural and Food Policy; Environmental Economics and Policy (search for similar items in EconPapers)
Pages: 29
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea00:21827

DOI: 10.22004/ag.econ.21827

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