An Allais Measure of Production Sector Waste Due to Quotas
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The Center for Agricultural and Rural Development (CARD) conducts innovative public policy and economic research on agricultural, environmental, and food issues. CARD uniquely combines academic excellence with engagement and anticipatory thinking to inform and benefit society.
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Abstract
Agricultural production quotas are policy instruments that many countries have adopted as a means of transferring income from consumers to producers. Here the partial equilibrium approach of Allais and Diewert is adapted to measure the efficiency loss in the production sector due to quotas.