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PRODUCT TRADING — AN ALTERNATIVE TO TRANSFERABLE WHEAT QUOTAS
Author(s) -
Powell Roy A.
Publication year - 1972
Publication title -
australian journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 0004-9395
DOI - 10.1111/j.1467-8489.1972.tb00101.x
Subject(s) - product (mathematics) , economics , business , outcome (game theory) , industrial organization , microeconomics , mathematics , geometry
This note examines the implications of permitting producers to trade wheat amongst themselves. The outcome, in efficiency terms, is identical to that achieved with transferable quotas. For some producers, there may be advantages in product trading that are not available in transferable quotas.