Applications Of Principal-agent Theory To Agricultural Land Use Policy: Lessons From The European Union

“Fraser's book is an essential component of the library for anyone engaged in agricultural land use policy, whether as a policymaker or adviser, or as a policy analyst. Not only does it make interesting reading for those interested in how policy in this area has evolved, particularly in Europe, since the 1980s it provides an excellent lesson in how a research programme can evolve in line with a changing policy environment and how analytical methods can evolve to address that changing environment.”

David Blandford
Professor of Agricultural and Environmental Economics
Pennsylvania State University

This book is based on the author's published research and uses the principal-agent methodology as a consistent framework for analysing and evaluating the development of the European Union's agricultural land use policy as it has evolved over the last two decades from voluntary set-aside to "compliance" set-aside to environmental stewardship. The book begins with an introduction to the principal-agent methodology and to the historical development of agricultural land use policy in the CAP (Common Agricultural Policy). There are also literature-based introductions which contextualise each major part of the book (Parts A and B). The book concludes with some reflections and forward-looking comments on policy design lessons from this research, which will be of use to students, academics and policymakers.