Washington Biofuel Feedstock Crop Supply Analysis

Qiujie Zheng and C. Shumway

No 2008-24, Working Papers from School of Economic Sciences, Washington State University

Abstract: Biofuels, as alternative transportation fuels, are now being used globally. Taking advantage of in-state feedstock supply is an efficient way to stimulate in-state biofuel industries and the local economy. This paper uses several models to estimate supply equations for major biofuel feedstock crops in Washington. We estimate expected utility maximization models, expected profit maximization models, and several pragmatic models. We examine the comparative statics results of the models, and use the results to draw important implications for Washington policy makers and for farmers who are considering production of biofuel feedstocks.

Keywords: biofuel feedstock; output uncertainty; price uncertainty; profit maximization; supply (search for similar items in EconPapers)
Pages: 39 pages
Date: 2008-12
New Economics Papers: this item is included in nep-agr and nep-ene
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