Estimating the Effect of Government Programs on the Supply of Wheat in the United States
Neenan, Bernard F.; Blandford, David
Acreage functions for wheat, incorporating variables that reflect the value of voluntary acreage diversion programs to producers, are estimated fro 1962-76. The elasticities of response to such programs are generally low in comparison to those for market price, indicating that the reduction of production through voluntary diversion is relatively expensive.
Charles H. Dyson School of Applied Economics and Management, Cornell University