Effects of decoupling on the mean and variability of output
研究了非风险中性农户在产出和价格不确定下，脱钩收入补贴如何通过投入选择影响产出的均值和方差，并用堪萨斯州农场数据验证。
The influence of inputs on output risk in the context of agricultural production decisions taken by non-risk neutral agents has been ignored by previous research assessing the effects of decoupled income support payments in a deterministic world or risk-neutral framework. We study the impacts of decoupled payments on input use and on output mean and variance. Our theoretical framework for studying agricultural producers' responses to lump sum payments allows for both output and price uncertainty and economic agents' risk attitudes. Results show the importance, in a non-risk neutral scenario, of considering the influence that economic agents have on the stochastic component of output through input use. Our empirical application uses Kansas farm-level data to illustrate the model. Copyright 2006, Oxford University Press.