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Full-Text Articles in Other Economics

Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, Paolo Sckokai, Giancarlo Moschini Sep 1993

Interventi Disaccoppiati, Riforma Della Pac E Redditi Agricoli: Una Analisi Qualitativa, Paolo Sckokai, Giancarlo Moschini

Economics Publications

La recente riforma della Politica Agricola Comune (PAC) costituisce uno dei cambiamenti piu drastici ed ambiziosi che sia stato mai intrapreso negli orientamenti comunitari. Come e noto, il sostegno del mercato dei principali prodotti agricoli subira modificazioni profonde, ponendo una serie di importanti quesiti sugli effetti economici della riforma. In Italia, lo sforzo dei ricercatori si e rivolto essenzialmente alia quantificazione degli effetti sui redditi agricoli, come logica risposta aile preoccupazioni del mondo rurale, che vede nella riforma una vera e propria rivoluzione 1 , In queStO COnteStO, Un puntO di pattenza Utile e rappresentato da una discussione teorica dei nuovi ...


Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman Jul 1993

Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman

Economics Publications

The risk premium and the probability premium are used to determine appropriate coefficients of absolute risk aversion under CARA utility. A defensible range of risk-aversion coefficients is defined by the coefficients that correspond to risk premiums falling between 1 and 99% of the amount at risk or to probability premiums falling between .005 and ,49 for a lottery that pays or loses a given sum. The consequences of ignoring risk premiums when selecting risk-aversion coefficients for representative decision makers are illustrated by calculation of the implied risk premium associated with the levels of absolute risk aversion assumed in six selected ...


Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, William E. Foster, Bruce Babcock Jul 1993

Commodity Policy, Price Incentives, And The Growth In Per-Acre Yields, William E. Foster, Bruce Babcock

Economics Publications

We estimate the influence of policy-induced price changesand of technologysupply on North Carolina flue-cured tobacco yields. The decline in land rent and effective output price that accompanied a 1965 policy change from acreage allotments to poundage quotas caused a 12 percent decrease in yields. Farmer yields were more responsive to yield-increasing technologies under acreage allotments than under poundage quotas. Annual yield growth was 0.5 percent under poundage quotas and 4.32 percent under acreage allotments. The growth rate decline is attributable to changes in relative prices and to a slowdown in the supply of available technologies.


Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman Jan 1993

Risk And Probability Premiums For Cara Utility Functions, Bruce A. Babcock, E. Kwan Choi, Eli Feinerman

Economics Publications

The risk premium and the probability premium are used to determine appro- priate coefficients of absolute risk aversion under CARA utility. A defensible range of risk-aversion coefficients is defined by the coefficients that correspond to risk premiums falling between 1 and 99% of the amount at risk or to probability premiums falling between .005 and .49 for a lottery that pays or loses a given sum. The consequences of ignoring risk premiums when selecting risk-aversion coefficients for representative decision makers are illustrated by calculation of the implied risk premium associated with the levels of absolute risk aversion assumed in six ...