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Do Efficient Dairy Producers Purchase Quota?

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Title: Do Efficient Dairy Producers Purchase Quota?
Author: Elskamp, Rebecca
Department: Department of Food, Agricultural and Resource Economics
Program: Food, Agriculture and Resource Economics
Advisor: Hailu, Getu
Abstract: This thesis examines the impact of farm level cost efficiency on quota trading in a supply regulated industry. Comparative statics illustrate the role of cost efficiency in quota transfers. For estimation purposes, the dependent variable; net quota purchases is specified both quantitatively and qualitatively and modelled by a linear regression model and multinomial logit model, respectively. Empirical results indicate that variation in cost efficiency does not have a significant effect on the sample producers’ decision to purchase quota. Meanwhile, quota purchasers are younger producers, with large herds, underutilized barn space, and had purchase quota in the previous year.
Date: 2012-05
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