@article{Brown:15112,
      recid = {15112},
      author = {Brown, A. Blake and Martin, Laura L.},
      title = {PRICE VERSUS QUOTA REDUCTIONS: U.S. FLUE-CURED TOBACCO  POLICY},
      journal = {Journal of Agricultural and Applied Economics},
      address = {1996-12},
      number = {1379-2016-113385},
      pages = {8},
      year = {1996},
      abstract = {Declining domestic cigarette consumption, increased global  competition, and loss of import restrictions indicate  decreased demand for U.S. flue-cured tobacco. The effects  of 10% declines in domestic and export demand are evaluated  under a policy of reducing quota to maintain price versus a  policy of allowing price to fall to maintain quota. Changes  in prices, quantities, revenues, and economic rents are  simulated. Losses to nonfarming quota owners are minimized  under a policy of price maintenance, while losses in  revenues to tobacco-producing areas are minimized by a  policy of quota maintenance. Aggregate losses to tobacco  growers are greater under a policy of quota maintenance.},
      url = {http://ageconsearch.umn.edu/record/15112},
      doi = {https://doi.org/10.22004/ag.econ.15112},
}