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- Title
Inelastic and Fragmented Farm Supply Response for Second-generation Bioenergy Feedstocks: Ex Ante Survey Evidence from Wisconsin.
- Authors
Mooney, Daniel F.; Barham, Bradford L.; Chang Lian
- Abstract
Second-generation bioenergy feedstocks stand poised to become a key component of the nation's agricultural and energy sectors, yet few studies have examined farm supply response using survey information. We use contingent valuation data from farmers in southwestern Wisconsin to develop ex ante supply estimates for two prospective feedstocks--corn stover and switchgrass--in terms of farmers' extensive and intensive acreage decisions. Supply response is found to be price inelastic and spatially fragmented, making widespread production unlikely in the near-term. However, heterogeneity in farmer reservation prices suggests that agglomerations or "hot spots" of feedstock supply could arise at local or regional levels.
- Subjects
WISCONSIN; ENVIRONMENTAL policy; CONTINGENT valuation; BUYER'S market; HOMOGENEITY
- Publication
Applied Economic Perspectives & Policy, 2015, Vol 37, Issue 2, p287
- ISSN
2040-5790
- Publication type
Article
- DOI
10.1093/aepp/ppu033