Participation in the Farmer-Owned Reserve Program: A Discrete Choice Model

摘要: The Food and Agriculture Act of 1977 initiated a fundamental redirection U.S. grain policy. Previous policy revolved around supply control via price supports marketing quotas or allocations; now the active role reserves is emphasized. market given free rein under normal conditions, while guard against periods excessively high low prices. A cornerstone new farmer-owned reserve (FOR) program. FOR designed to stabilize prices contribute food security by encouraging farmers hold more in storage than they would otherwise. Because program voluntary, it important understand what motivates participation FOR. It also quantify, at least partially, decision-making process if makers are forecast farmer responsiveness actions. In recent studies addressing this question, little attention has been statistical modelling individual decision making (Meyers Ryan, Meyers, Jolly Burnstein). This paper describes an empirical model using theoretical choice discrete econometrics. major provisions first outlined. Next based on stochastic utility function presented. Crosssection data for corn wheat producers, gathered subcommittee North Central Regional Project 152 (NC-152), used estimate models process. concludes with pertinent implications. Farmer-Owned Grain Reserve