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Interactions between Agricultural and Resource Policy: The Importance of Attitudes toward Risk

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  • Howard D. Leathers
  • John C. Quiggin

Abstract

Using a method proposed by Meyer for deriving comparative statics results in the presence of risk, this paper analyzes the effects of various agricultural and environmental policy alternatives on the choices of a risk-averse producer with a Just and Pope production function. Many commonly held beliefs about policy effects are not supported unambiguously by economic theory. For example, a tax on pesticides will not necessarily reduce pesticide use or average output, and a reduction in price of agricultural output will not necessarily lead to a reduction in use of water or agricultural chemicals.

Suggested Citation

  • Howard D. Leathers & John C. Quiggin, 1991. "Interactions between Agricultural and Resource Policy: The Importance of Attitudes toward Risk," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(3), pages 757-764.
    • Handle: RePEc:oup:ajagec:v:73:y:1991:i:3:p:757-764.
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    File URL: http://hdl.handle.net/10.2307/1242828
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