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On the desirability of an income stabilisation scheme

Authors
Publisher
Elsevier B.V.
Publication Date
Volume
15
Identifiers
DOI: 10.1016/0165-1765(84)90045-4

Abstract

Abstract As a preliminary to further empirical work, this letter considers the desirability for producers of a scheme which stabilises incomes by introducing a negative covariance between price and production and which is to be funded by producers. It examine the way in which this desirability depends on the cost of the scheme, the risk aversion of producers, and the extent of their initial income instability.

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