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Abstract
A unified framework for analyzing the short-term production relationships between outputs and inputs on Dutch dairy farms before and after the introduction of the milk quota system is presented. It is derived from duality theory and estimated using an incomplete panel of Dutch dairy farms. The theoretical framework fits the data well. The supply of unrestricted outputs and the demand for variable inputs are much more responsive to milk quota changes than to price changes. The average estimated shadow price of milk quota in 1984/85-1988/89 was 0.36 guilder per kilogram in 1980/81 prices. The scarcity of milk quota and resources is further investigated for different types of dairy farms. It appears that high shadow prices of quasi-fixed inputs go together with low shadow prices of milk quota. Copyright 1993 by Oxford University Press.
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