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Farm Income and Economic Welfare Considerations

Author

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  • L. J. Hubbard
  • P. F. Allanson
  • A. W. Renwick

Abstract

We present four decision rules for ranking income distributions based on specific restrictions on the form of the welfare function. These rules reflect different emphases on presumed preferences for both higher incomes and a more equitable distribution of income, ceteris paribus. Particular attention is paid to the occurrence of negative incomes, and we show how these can directly affect the ordinal rankings. The four decision rules are employed in a comparative analysis of farming incomes in England over the period 1983/84–1993/94. The outcome is a more complete ranking of income distributions than is possible using conventional measures. There is some evidence of an improvement in the welfare of the farming community over the period.

Suggested Citation

  • L. J. Hubbard & P. F. Allanson & A. W. Renwick, 1998. "Farm Income and Economic Welfare Considerations," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 34-49, March.
    • Handle: RePEc:bla:jageco:v:49:y:1998:i:1:p:34-49
    DOI: 10.1111/j.1477-9552.1998.tb01250.x
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    References listed on IDEAS

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    1. Ahearn, Mary & Johnson, Jim & Strickland, Roger, 1985. "The Distribution Of Income And Wealth Of Farm Operator Households," 1985 Annual Meeting, August 4-7, Ames, Iowa 278657, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    11. Mary Ahearn & Jim Johnson & Roger Strickland, 1985. "The Distribution of Income and Wealth of Farm Operator Households," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 67(5), pages 1087-1094.
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    Cited by:

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    2. Frýd, Lukáš & Sokol, Ondřej, 2021. "Relationships between technical efficiency and subsidies for Czech farms: A two-stage robust approach," Socio-Economic Planning Sciences, Elsevier, vol. 78(C).

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