BEHAVIORAL IMPLICATIONS OF COUNTER-CYCLICAL PAYMENTS AND BASE ACREAGE UPDATING UNDER THE 2002 FARM ACT

The introduction of counter-cyclical payments (CCPs) and a base acreage updating option under the 2002 Farm Act have potential supply response implications. To gain insight into the economic incentives and efficiency implications of these provisions, this paper presents the design of a 3-stage experimental market used to gauge the actual response of economic agents under conditions simulating those faced by U.S. farmers. When completed, the results of the experiment will be used to assess the impact of the CCP system and of policy uncertainty regarding future base-updating options, relative to a market revenue-only baseline.


Issue Date:
2003
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/21937
Total Pages:
26
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

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