Payment Limitations and Acreage Decisions under Risk Aversion: A Simulation Approach
模拟评估美国加强农业支付限制对玉米、大豆、小麦、棉花和水稻种植面积的影响，发现除棉花和水稻外，限制对多数作物面积影响不大。
Abstract Payment limits have played an important role in U.S. farm policy deliberations for the last thirty years. Current limits are largely nonbinding. Proposals to strengthen and enforce limits are currently in discussion. We evaluate the likely effects of such proposals on acreage for corn, soybeans, wheat, cotton, and rice in several important producing states. Our results generally indicate that payment limits are unlikely to significantly affect acreage in most cases; exceptions occur for cotton and rice, where the probability that limits would be binding is much greater and thus more likely to affect production.