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Working Papers (Resource Economics & Environmental Sociology)
The purpose of the Resource Economics and Environmental Sociology "Working Paper" series is to provide a forum to accelerate the presentation of issues, concepts, ideas and research results within the academic and professional community. Working Papers are published without peer review.
Items in this Collection
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The Simple Analytics of Transferable Production Quota: Implications for the Marginal Cost of Ontario Milk Production
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Using the fact that separate markets exist for used and unused quota, this paper derives a formula to compute the marginal cost of the milk production along a competitive dynamic optimization model. It is showed that, under a perfect competitive quota market, the difference between unused quota...