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Producer Response to the EEC Milk Superlevy

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  • Burrell, Alison

Abstract

Milk producers' responses to low expected rates of superlevy and superlevy uncertainty during 1984/5-1986/7 are examined. In England and Wales, the average size of unplanned deviations from quota remained constant over time, whereas the variation amongst producers in the planned deviation from quota rose more than threefold as producers learned to cope with the new system. Individual supply decisions appear consistent with the hypothesis of utility maximization under uncertainty. The extent of overquota supply is shown to depend on marginal cost, prequota expansion trends, and size of enterprise, although much variation in supply relative to quota remains unexplained. Copyright 1990 by Oxford University Press.

Suggested Citation

  • Burrell, Alison, 1990. "Producer Response to the EEC Milk Superlevy," European Review of Agricultural Economics, Oxford University Press and the European Agricultural and Applied Economics Publications Foundation, vol. 17(1), pages 43-55.
    • Handle: RePEc:oup:erevae:v:17:y:1990:i:1:p:43-55
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    Cited by:

    1. Joost M. E. Pennings & Matthew T. G. Meulenberg, 1998. "New Futures Markets in Agricultural Production Rights: Possibilities and Constraints for the British and Dutch Milk Quota Markets," Journal of Agricultural Economics, Wiley Blackwell, vol. 49(1), pages 50-66, March.
    2. Joost Pennings & Willem Heijman & Matthew Meulenberg, 1997. "The Dimensions of Rights: A Classification of Environmental Rights and Production Rights," European Journal of Law and Economics, Springer, vol. 4(1), pages 55-72, January.

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