Marketing Quotas and Random Yields: Marginal Effects of Inframarginal Subsidies on Peanut Supply
分析美国花生计划中,配额内补贴价格与配额外世界价格对种植面积的影响,发现边际价格(世界价格)比边际内补贴更重要。
Abstract The U.S. peanut program restricts domestic sales with poundage quota but allows surplus production to be exported or crushed. Empirical analysis of North Carolina peanut production reveals that the marginal (and lower) price received by production above quota, that is the world price, is far more important in determining acreage than is the inframarginal subsidy of the quota support price.