@article{Spencer:252835,
      recid = {252835},
      author = {Spencer, Daniel S. and Barnes, James N. and Coatney, Kalyn  T. and Parman, Bryon J. and Coble, Keith H.},
      title = {PROPERTY RIGHTS AND THE ECONOMICS OF NON-POINT  SOURCE  WATER REGULATIONS IN AGRICULTURE:  A NEW  BIOPHYSICAL-ECONOMIC METHODOLOGICAL APPROACH},
      address = {2017},
      number = {1377-2016-109850},
      pages = {19},
      year = {2017},
      abstract = {Several recent studies have examined how excess nutrient  runoff from nitrogen and phosphorous have caused  environmental damage in the United States. Perhaps the most  significant is the hypoxia zone in the Gulf of Mexico. As a  result, regulation of these nutrient levels has emerged as  an important step toward environmental stewardship, yet  this has been an uneven process. Some states have developed  strict regulations to decrease nutrient runoff, but the  majority of states have favored broader goals of reducing  nutrient runoff using best management practices (BMPs)  instead of strict regulations. Nevertheless, regulations  that restrict the use of nutrients in production  agriculture also restricts the property rights of input  usability over said nutrients in the agricultural supply  chain and its production processes, including at the  farm-level. 

This paper reviews the economic literature on  non-point source water regulations to reduce nutrient  runoff in agricultural production in the United States. A  new methodological approach is outlined that uses the  Agricultural Policy and Environmental eXtender (APEX)  biophysical simulation model to understand alternative  production practices and nutrient management strategy  economics from a farm level perspective. Some empirical  examples are presented to demonstrate the usefulness of  this approach.},
      url = {http://ageconsearch.umn.edu/record/252835},
      doi = {https://doi.org/10.22004/ag.econ.252835},
}