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© 1987 Oxford University Press and the Foundation for the European Review of Agricultural Economics

research-article

The welfare evaluation of the Spanish price policy: An integrated approach

J.M.G. ALVAREZ-COQUE and L.V. BARCELO*

Department of Agricultural Economics, Polytechnical University of Valencia Spain
Departamento de Economia, Sociologia y Politica Agraria (E.T.S.I. Agronomos), Universidad Politécnica de Valencia Campus de Vera, 46020 Valencia, Spain

Received November 1, 1985; Revision received April 1, 1986.

Summary

The use of the economic surplus measures has been widespread in the welfare evaluation of trade distortions in agricultural markets. However, the criterion based on the sum of surplus areas can be ambiguous since it usually involves the implicit acceptance of a restrictive class of value-judgements. This article approaches the evaluation of the Spanish agricultural prices policy by means of Atkinson's welfare function, that makes clear the trade-off between efficiency and equity, and explicitly includes the policy-maker's inequality aversion. Optimum levels of protection are estimated at various inequality-aversion levels.


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