Implications of the Air Compliance Agreement for Livestock Producers

Joleen Hadrich and Christopher Wolf ()

No 49316, 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin from Agricultural and Applied Economics Association

Abstract: Nutrient management and air emissions continue to be an area of increased management control on all livestock operations as environmental regulations become more stringent. Agricultural producers must consider uncertainty surrounding the timing of and potential increases of environmental policy controls, such as emission taxes, when making future investment decisions. An optimal control theory framework was applied to a dairy farm facing an uncertain increase in emission taxes and an unknown date at which emission taxes will take effect. The optimal investment path considering these uncertainties was solved implicitly and compared to a full certainty case.

Keywords: Environmental Economics and Policy; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 30
Date: 2009
New Economics Papers: this item is included in nep-env and nep-reg
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea09:49316

DOI: 10.22004/ag.econ.49316

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