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European Association of Agricultural Economists >
2008 International Congress, August 26-29, 2008, Ghent, Belgium >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/44323
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| Title: | Agri-Environmental Policy and Moral Hazard under Output Price and Production Uncertainty |
| Authors: | Yano, Yuki
Blandford, David |
| Keywords: | Agri-environmental schemes
uncertainty
moral hazard |
| Issue Date: | 2008 |
| Abstract: | Several theoretical and empirical models have been developed to examine how risk aversion affects compliance with agri-environmental schemes under asymmetric information and uncertainty. However, none has examined the case where the level of compliance is a continuous variable and producers face simultaneous monitoring, output price and production uncertainty. Treating conservation effort as a continuous variable, we show that risk aversion can mitigate the moral hazard problem in most cases. However, if conservation effort has a risk-increasing impact on production the effect of risk aversion on compliance is ambiguous. |
| URI: | http://purl.umn.edu/44323 |
| Institution/Association: | European Association of Agricultural Economists>2008 International Congress, August 26-29, 2008, Ghent, Belgium |
| Total Pages: | 11 |
| Collections: | 2008 International Congress, August 26-29, 2008, Ghent, Belgium
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