Price uncertainty under EC milk quotas
- 1 January 1985
- journal article
- Published by Oxford University Press (OUP) in European Review of Agricultural Economics
- Vol. 12 (4) , 335-350
- https://doi.org/10.1093/erae/12.4.335
Abstract
The current arrangements for applying the super levy under the Formula B option introduce a new element of price uncertainty into milk production decisions. In these circumstances it may be rational for individual producers to exceed their quota. Cyclical fluctuations in aggregate supply could develop, with implications for the efficiency of resource allocation and current dairy policy.Keywords
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