Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery
Application of the tobit model to estimate economic welfare is transferred from the consumer side to the producer side. Supply functions are estimated for multioutput irrigators in the Pacific Northwest. Empirical procedures are then developed for computing expected producer's surplus from the...
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Western Agricultural Economics Association
2000-12-01
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| Series: | Journal of Agricultural and Resource Economics |
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| Online Access: | https://ageconsearch.umn.edu/record/30885 |
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doaj-dc8c335d17034893876cfab24f8c20282020-11-25T03:04:09ZengWestern Agricultural Economics AssociationJournal of Agricultural and Resource Economics1068-55022327-82852000-12-0125232534610.22004/ag.econ.3088530885Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon RecoveryMichael R. MooreNoel R. GollehonDaniel HellersteinApplication of the tobit model to estimate economic welfare is transferred from the consumer side to the producer side. Supply functions are estimated for multioutput irrigators in the Pacific Northwest. Empirical procedures are then developed for computing expected producer's surplus from the output supply functions. Confidence intervals for the surplus measures are generated using the Krinsky-Robb method. An experiment predicts decreases in surplus given increases in water pumping cost. The experiment replicates possible increases in hydroelectric prices due to the salmon recovery program in the Columbia-Snake River Basin. Output substitution explains producers' ability to mitigate the effect of the price increases on producer's surplus.https://ageconsearch.umn.edu/record/30885endangered species actmultioutput supplypacific northwestproducer's surplussalmontobit regressionwater price |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Michael R. Moore Noel R. Gollehon Daniel Hellerstein |
| spellingShingle |
Michael R. Moore Noel R. Gollehon Daniel Hellerstein Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery Journal of Agricultural and Resource Economics endangered species act multioutput supply pacific northwest producer's surplus salmon tobit regression water price |
| author_facet |
Michael R. Moore Noel R. Gollehon Daniel Hellerstein |
| author_sort |
Michael R. Moore |
| title |
Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery |
| title_short |
Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery |
| title_full |
Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery |
| title_fullStr |
Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery |
| title_full_unstemmed |
Estimating Producer's Surplus with the Censored Regression Model: An Application to Producers Affected by Columbia River Basin Salmon Recovery |
| title_sort |
estimating producer's surplus with the censored regression model: an application to producers affected by columbia river basin salmon recovery |
| publisher |
Western Agricultural Economics Association |
| series |
Journal of Agricultural and Resource Economics |
| issn |
1068-5502 2327-8285 |
| publishDate |
2000-12-01 |
| description |
Application of the tobit model to estimate economic welfare is transferred from the consumer side to the producer side. Supply functions are estimated for multioutput irrigators in the Pacific Northwest. Empirical procedures are then developed for computing expected producer's surplus from the output supply functions. Confidence intervals for the surplus measures are generated using the Krinsky-Robb method. An experiment predicts decreases in surplus given increases in water pumping cost. The experiment replicates possible increases in hydroelectric prices due to the salmon recovery program in the Columbia-Snake River Basin. Output substitution explains producers' ability to mitigate the effect of the price increases on producer's surplus. |
| topic |
endangered species act multioutput supply pacific northwest producer's surplus salmon tobit regression water price |
| url |
https://ageconsearch.umn.edu/record/30885 |
| work_keys_str_mv |
AT michaelrmoore estimatingproducerssurpluswiththecensoredregressionmodelanapplicationtoproducersaffectedbycolumbiariverbasinsalmonrecovery AT noelrgollehon estimatingproducerssurpluswiththecensoredregressionmodelanapplicationtoproducersaffectedbycolumbiariverbasinsalmonrecovery AT danielhellerstein estimatingproducerssurpluswiththecensoredregressionmodelanapplicationtoproducersaffectedbycolumbiariverbasinsalmonrecovery |
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1724682613503819776 |