A MICROECONOMETRIC ANALYSIS OF MILK QUOTA TRANSFER: APPLICATION TO FRENCH PRODUCERS
利用对偶理论和影子价格概念，研究产出配额下生产者行为，建立可交易配额模型，推导租赁价格和均衡交易量，并应用于1991年法国牛奶生产者数据，评估效率收益和区域生产转移。
In this paper, we use the duality theory framework and the concept of virtual or shadow price of a rationed good to analyse producer behaviour under output quota when individual quota rights can be leased or rented for one production cycle. We propose a formal model of tradable quota rights which allows us to determine the lease price of quota and the exchanged quantity at equilibrium. The implications of trading On farmers' decisions (output choice level and traded licences), and on their incomes, are derived formally. The theoretical framework is applied to a sample of French milk producers for the year 1991. We then determine efficiency gains and regional shifts in production that such a market would generate.