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Commodity R&D And Promotion

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  • Richards, Timothy J.
  • Padilla, Luis

Abstract

Considerable evidence exists of high returns to public and private investment in commodity research and development programs. This study investigates the potential returns to product research, development, and marketing in a dynamic commodity-market model. Theoretical hypotheses derived from the solution to this model are tested in an empirical example of Washington apples. Estimation results show that, despite significant spillovers to research and promotion expenditure in this industry, there is nonetheless considerable latitude to increase annual sales.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.

Volume (Year): 34 (2002)
Issue (Month): 03 (December)
Pages:

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Handle: RePEc:ags:joaaec:15083

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: advertising; commodity; innovation; optimal control; Poisson model; research and development; Marketing; Research and Development/Tech Change/Emerging Technologies; L15; M37; Q13; Q16;

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References

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  1. K. M. Chyc & E. W. Goddard, 1994. "Optimal investment in generic advertising and research: The case of the Canadian supply-managed egg market," Agribusiness, John Wiley & Sons, Ltd., vol. 10(2), pages 145-166.
  2. Pradeep K. Chintagunta & Dipak Jain, 1992. "A Dynamic Model of Channel Member Strategies for Marketing Expenditures," Marketing Science, INFORMS, vol. 11(2), pages 168-188.
  3. Wang, Peiming & Cockburn, Iain M & Puterman, Martin L, 1998. "Analysis of Patent Data--A Mixed-Poisson-Regression-Model Approach," Journal of Business & Economic Statistics, American Statistical Association, vol. 16(1), pages 27-41, January.
  4. Ehrlich, Isaac & Fisher, Lawrence, 1982. "The Derived Demand for Advertising: A Theoretical and Empirical Investigation," American Economic Review, American Economic Association, vol. 72(3), pages 366-88, June.
  5. Gopinath, Munisamy & Vasavada, Utpal, 1999. "Patents, R&D, And Market Structure In The U.S. Food Processing Industry," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(01), July.
  6. Gustav Feichtinger & Richard F. Hartl & Suresh P. Sethi, 1994. "Dynamic Optimal Control Models in Advertising: Recent Developments," Management Science, INFORMS, vol. 40(2), pages 195-226, February.
  7. Crepon, Bruno & Duguet, Emmanuel, 1997. "Estimating the Innovation Function from Patent Numbers: GMM on Count Panel Data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 12(3), pages 243-63, May-June.
  8. Stephen F. Hamilton & David Sunding, 1998. "Returns to Public Investments in Agriculture with Imperfect Downstream Competition," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(4), pages 830-838.
  9. Richards, Timothy J. & Patterson, Paul M., 1998. "New Varieties and the Returns to Commodity Promotion: Washington Fuji Apples," Working Papers 28541, Arizona State University, Morrison School of Agribusiness and Resource Management.
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