| 초록 |
This study analyzes the effects of changes in policy design and institutional settings of rice income direct payment program. A decrease in market price, increase in the trigger price, increase in the fixed payment, and the program in combination with the land idling program was adopted as scenarios. The direct payment program is modelled as an exotic option and a Monte Carlo Simulation is used to evaluate its value by scenario. The analysis provides many interesting results for redesigning the program.
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