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Toward A Framework For Evaluating Agricultural Economics Research

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  • Lindner, Robert K.
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    Abstract

    Agricultural economists need to evaluate their own research priorities. The main difficulty in doing so is to value the types of information generated by economic research. Bayesian decision theory provides a framework for valuing information, and the results of selected studies using this methodology are collated. Most of the other determinants of research priorities can be encapsulated in a target return ratio measure. How such a framework might be used is illustrated by three 'hypotheticals'.

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    Bibliographic Info

    Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural Economics.

    Volume (Year): 31 (1987)
    Issue (Month): 02 (August)
    Pages:

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    Handle: RePEc:ags:ajaeau:22453

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    Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
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    Keywords: Research and Development/Tech Change/Emerging Technologies; Research Methods/ Statistical Methods;

    References

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    1. Byerlee, Derek R. & Anderson, Jock R., 1982. "Risk, Utility and the Value of Information in Farmer Decision Making," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 50(03), December.
    2. Richardson, Bob, 1986. "Some Current Issues In The Marketing Of Agricultural Products," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 30(02-03).
    3. Freebairn, John W., 1978. "An Evaluation of Outlook Information for Australian Agricultural Commodities," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(03), December.
    4. Campbell, H F & Lindner, R K, 1985. "A Model of Mineral Exploration and Resource Taxation," Economic Journal, Royal Economic Society, vol. 95(377), pages 146-60, March.
    5. Hayami, Yujiro & Peterson, Willis, 1972. "Social Returns to Public Information Services: Statistical Reporting of U. S. Farm Commodities," American Economic Review, American Economic Association, vol. 62(1), pages 119-30, March.
    6. Peter Bardsley & M. Harris, 1987. "An Approach To The Econometric Estimation Of Attitudes To Risk In Agriculture," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 31(2), pages 112-126, 08.
    7. Solow, Robert M, 1974. "The Economics of Resources or the Resources of Economics," American Economic Review, American Economic Association, vol. 64(2), pages 1-14, May.
    8. Norton, George W. & Schuh, G. Edward, 1980. "Evaluating Returns to Social Science Research: Issues and Possible Methods," Evaluation of Agricultural Research, Proceedings of a Workshop, Minneapolis, MN, May 12-13, 1980, Miscellaneous Publication 8 49076, University of Minnesota, Agricultural Experiment Station.
    9. Hirshleifer, Jack, 1973. "Where Are We in the Theory of Information?," American Economic Review, American Economic Association, vol. 63(2), pages 31-39, May.
    10. Freebairn, J W, 1976. "The Value and Distribution of the Benefits of Commodity Price Outlook Information," The Economic Record, The Economic Society of Australia, vol. 52(138), pages 199-212, June.
    11. Freebairn, John W., 1976. "Welfare Implications Of More Accurate Rational Forecast Prices," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 20(02), August.
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    Cited by:
    1. Kelley, T. G. & Ryan, J. G. & Patel, B. K., 1995. "Applied participatory priority setting in international agricultural research: Making trade-offs transparent and explicit," Agricultural Systems, Elsevier, vol. 49(2), pages 177-216.
    2. Ryan, Jim, 2002. "Assessing the impact of food policy research: rice trade policies in Viet Nam," Food Policy, Elsevier, vol. 27(1), pages 1-29, February.

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