LOCATION AND MARKETING UNDER MARKETING ASSISTANCE LOAN AND LOAN DEFICIENCY PAYMENT PROGRAMS
分析营销援助贷款和贷款差额支付计划如何影响不同区位生产者的营销决策，解释为何县贷款率与参与率缺乏关联，并讨论多重均衡及福利影响。
Marketing assistance loan (MAL) and loan deficiency payment (LDP) programs differ in their treatment of basis. This paper analyzes marketing decisions under these programs when producers are differentiated by location with respect to the terminal market. The developed model may help explain the observed lack of an association between the county loan rate and the share of a county's production enrolled in MAL programs. Under certain conditions, multiple equilibria are shown to emerge. The effects of MAL and LDP programs on welfare and policy implications are discussed.