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Journal of Agricultural and Resource Economics >
Volume 25, Number 02, December 2000 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/30885
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| Title: | ESTIMATING PRODUCER'S SURPLUS WITH THE CENSORED REGRESSION MODEL: AN APPLICATION TO PRODUCERS AFFECTED BY COLUMBIA RIVER BASIN SALMON RECOVERY |
| Authors: | Moore, Michael R.
Gollehon, Noel R.
Hellerstein, Daniel |
| Issue Date: | 2000-12 |
| Abstract: | Application of the tobit model to estimate economic welfare is transferred from the consumer side to the producer side. Supply functions are estimated for multioutput irrigators in the Pacific Northwest. Empirical procedures are then developed for computing expected producer's surplus from the output supply functions. Confidence intervals for the surplus measures are generated using the Krinsky-Robb method. An experiment predicts decreases in surplus given increases in water pumping cost. The experiment replicates possible increases in hydroelectric prices due to the salmon recovery program in the Columbia-Snake River Basin. Output substitution explains producers' ability to mitigate the effect of the price increases on producer's surplus. |
| URI: | http://purl.umn.edu/30885 |
| Institution/Association: | Journal of Agricultural and Resource Economics>Volume 25, Number 02, December 2000 |
| Total Pages: | 22 |
| Language: | English |
| From Page: | 325 |
| To Page: | 346 |
| Collections: | Volume 25, Number 02, December 2000
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| 25020325.pdf | 1574Kb | PDF | View/Open |
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