摘要:

AbstractThe paper explores the substitutability between goods, female leisure, and male leisure. We find that goods and leisure are not separable. We then adapt the Almost Ideal Demand System (AIDS) to include leisure in the system in the same manner as commodities. The model is not sensitive to variations in the assumption of total time available for each individual's work and leisure. Results from Sri Lanka indicate the marginal propensity to consume leisure is quite high, especially in rural areas. This finding has important implications for transfer programs designed to raise food consumption. A somewhat surprising complementarity between male and female leisure was also observed. A number of goods were found to be complements to both male and female leisure.

ISSN:0002-9092    

DOI:10.2307/1243975

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractHousehold expenditures on food away from home are analyzed with the use of the BLS' 1989 Consumer Expenditure Survey. Parameterization and distributional assumptions of Cragg's double‐hurdle model are generalized for this purpose, and the resulting model outperforms the more traditional ones. Results suggest households with working wives and those with higher income are more likely to consume food away from home and also to consume more than others. Wife's age and household size increase the conditional level of consumption. Education has conflicting effects on probability and conditional level of consumption.

ISSN:0002-9092    

DOI:10.2307/1243976

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractUse of option price as a welfare measure when conducting a benefit‐cost analysis under uncertainty is appropriate only if the project under consideration will have no impact on the allocation of risk among individuals. Use of the willingness‐to‐pay locus as a benefit measure is appropriate only if the project will result in an efficient allocation of risk. A more general welfare measure is proposed, maximum agreeable payment, that correctly measures the benefits and costs of any project.

ISSN:0002-9092    

DOI:10.2307/1243977

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractA new utility function, which I call expo‐power, is proposed that exhibits decreasing, constant, or increasing absolute risk aversion and decreasing or increasing relative risk aversion, depending on parameter values. Numerical analysis suggests that the expo‐power function performs well in incorporating these risk preference structures, and that arbitrary risk preference specifications may lead to biased risk response estimates.

ISSN:0002-9092    

DOI:10.2307/1243978

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractThis paper examines the consequences of agricultural insurance for expected supply. The effect of insurance is shown to decompose into a “risk reduction” effect as well as a “moral hazard” effect. The direction and magnitude of these effects depend on the parameters of the insurance contract, producer's risk preferences, and the underlying technology. Two models are considered for this purpose. In the first model, widely employed in the literature, a producer controls only one input. The second model uses a dual approach to extend the results to the case where a producer controls multiple inputs.

ISSN:0002-9092    

DOI:10.2307/1243979

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractThis paper examines how crop insurance affects corn farmers' fertilizer and pesticide use in the U.S. Midwest. Crop insurance might be expected to affect chemical use because of “moral hazard”; insured farmers may undertake riskier production than do uninsured farmers. Results suggest that insurance exerts considerable influence on corn farmers' chemical use decisions. Those purchasing insurance applied significantly more nitrogen per acre (19%), spent more on pesticides (21%), and treated more acreage with both herbicides and insecticides (7% and 63%) than did those not purchasing insurance. These results suggest that both fertilizer and pesticides may be risk‐increasing inputs.

ISSN:0002-9092    

DOI:10.2307/1243980

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractBiotechnology enables rapid development of products with specific characteristics. We show that those who control the direction of biotechnology development influence the resulting industry structure. Through multimarket exploitation, chemical companies develop biotechnology that increases dependence on chemicals, whereas nonchemical companies tend toward development of biotechnology that substitutes for chemicals. Chemical companies tend to both underinvest and underproduce. Conversely, firms without vested chemical interests tend to overinvest and overproduce—even with monopoly‐enabling patents. Results show how the consequent industry structure can be affected by choice of agricultural policy.

ISSN:0002-9092    

DOI:10.2307/1243981

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractGovernment agencies frequently try to protect the public from industrial hazards by separating the two in time and/or space. This paper develops a methodology for one such policy, reentry regulation of pesticides. Re‐entry regulation is shown to provide a rational incentive for preventive applications of pesticides, a practice usually attributed to risk aversion or inadequate information. The tradeoffs between farm worker poisonings and lost grower revenue are shown to be substantial. Weather‐dependent, location‐specific reentry regulation appears superior to the uniform regulation now in effect.

ISSN:0002-9092    

DOI:10.2307/1243982

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractIn programs for trading pollution abatement between point and nonpoint sources, the trading ratio specifies the rate at which nonpoint source abatement can be substituted for point source abatement. The appropriate value of this ratio is unclear because of qualitative differences between the two classes of sources. To identify the optimal trading ratio, we develop and analyze a model of point/nonpoint trading. We find the optimal trading ratio depends on the relative costs of enforcing point versus nonpoint reductions and on the uncertainty associated with nonpoint loadings. The uncertainty does not imply a lower bound for the optimal trading ratio.

ISSN:0002-9092    

DOI:10.2307/1243983

出版商:Oxford University Press    

年代:1993

数据来源: WILEY

摘要:

AbstractA rural‐urban interregional computable general equilibrium (CGE) model is constructed to simulate the effects of terminating farm subsidies on household incomes, employment rates, farm and non‐farm sectoral activity, regional costs of living, and other economic indicators. The magnitudes of the effects depend on regional factor and goods market segmentation. Robust short‐run implications are that ceasing farm subsidies would cause rural nonfarm (particularly household service sector) employment to fall and lead to lower household income. On the other hand, rural manufacturing activity expands and the cost of living falls relative to urban. Urban employment, household income, and land rents rise. Although termination of farm subsidies causes a decline in rural real product, the urban real product gain outweighs rural losses.

ISSN:0002-9092    

DOI:10.2307/1243984

出版商:Oxford University Press    

年代:1993

数据来源: WILEY